Mumbai, April 9: The Central Bureau of Investigation (CBI) has registered a case against the then Chief Manager of Bank of India on the allegations that the public servant had received undue advantage from 10 entities/firms having cash credit (CC)/overdraft (OD) accounts with Bank of India, amounting to Rs 43.42 lakh.
Allegations based on source information
According to the CBI, source information was received alleging that A. Kumar, while working as Chief Manager, Bank of India, Itwari Branch, Nagpur, during the period February 2024 to March 2025, had received undue advantage from entities/firms concerned in a proceeding or business transacted by him.
Vigilance report flags irregular transactions
The bank's Chief Vigilance Officer, in its communication to the CBI in February, stated, "It is observed that Kumar allowed Temporary Overdraft (TOD) or Temporary Loan (TOL) transactions without reporting under prudential supervisory reporting system and in violation of the Bank's guidelines. Funds were transferred to Kumar's savings account and were found to be misappropriated."
Misuse of position and fund diversion
"As the then Chief Manager and sanctioning authority, Kumar misused his official position by debiting cash credit/loan accounts with insufficient funds, allowing unauthorised TOD/TOL without customer applications, and transferring the amounts to his personal account, resulting in misappropriation of bank funds. He also misled certain borrowers to transfer funds on compassionate grounds. In cases where no written mandate was obtained, he has allowed transfer of funds without customer authorisation for personal gain. These funds were reportedly utilised for investment in the share market. Keeping in view of the aforesaid, prima facie criminal intent found on his part. Hence, I am of the opinion that investigation under the Prevention of Corruption Act is warranted," the communication stated.
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Case registered under Prevention of Corruption Act
A case has been registered by the CBI against Kumar under Section 11 (obtaining of undue advantage by a public servant without consideration from a person concerned in a proceeding or business transacted by such public servant) of the Prevention of Corruption Act, officials said.
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