And finally… don’t bank on it

Three people have been arrested for allegedly running a fake branch of State Bank of India (SBI).

The three-month-old office came to the attention of authorities after an SBI customer noticed it in the city of Panruti in Tamil Nadu and took the matter up with his branch manager.

SBI officials visited the fake branch and were surprised when they saw that the business was set up with all the infrastructure in place.

Police said that SBI officials immediately launched a complaint after the arrests were made. Police also confirmed that no transactions had taken place and no money was lost, Business Standard reports. 

Tamil Nadu police have revealed that one of the three people arrested was a man whose parents were former employees at the bank.

Share icon
Share this article: