Hyderabad: SBI employee booked for siphoning Rs 23 lakh from ATM cash reserves

An SBI employee in Hyderabad has been booked for allegedly siphoning Rs 23 lakh from ATM cash reserves at the Yousufguda branch. The fraud reportedly came to light during ATM replacement, prompting police to register a case and launch an investigation.

Hyderabad: An employee of the State Bank of India branch at Yousufguda has been booked for allegedly siphoning off Rs 23 lakh from ATM cash reserves and falsifying records to cover up the fraud.

Based on a complaint filed by Chief Manager Kiran Kumar, Madhura Nagar police registered a case against the suspect Yadagiri Reddy and began an investigation.

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The alleged misappropriation of funds reportedly came to light during the installation of a new ATM in place of an old one at the branch.

The police suspect the suspect manipulated cash accounts after diverting the money.