After an employee of SBI Phulbani branch was found to have misappropriated bank’s money, two employees have been found bungling funds in Manappuram financial institution of Phulbani branch.
Subhasis Das, area manager of Manapuram, lodged an FIR at Phulbani town police station against branch manager Purnachandra Behra and assistant manager Asurmochan Biswal for misappropriating lakhs of rupees. The police registered a case and carried out an investigation.
The FIR stated that the branch employees intentionally violated the company appraisal standards and circular guidelines.
Auditor MK Appa Rao during inspection on January 3 found some irregularities in the Manapuram branch reporting a total loss of over Rs 48 lakh. The accused knowingly caused losses to the company. The managers along with the customers jointly misappropriated funds for their personal use, it was alleged.