Bank Official Arrested for Secretly Withdrawing Rs 1.26 Cr from Dormant Accounts

Srinagar: A bank official, Ishwinder Singh Ranyal, posted as Assistant Manager in J&K Bank’s Pouni branch was arrested on Saturday for allegedly illegally withdrawing over Rs 1.26 crore from dormant accounts in Jammu and Kashmir’s Reasi district. He withdrew this money over the past three years, police said.

This cheating Ranyal came to the fore in February 2024, when he withdrew an amount from an active account and the account holder lodged a police complaint.

The accused absconded to evade arrest. A special team of Jammu and Kashmir police arrested him from Sainik Colony in Jammu on Saturday morning.

It has been found that he wrongfully withdrew money causing a loss of public money of worth Rs 126.34 lakh. His modus operandi involved discretely activating the dormant accounts and then illegally withdrawing deposited money.