Sat Feb 15 17:12:30 UTC 2025: ## RBI Uncovers ₹122 Crore Cash Discrepancy at Mumbai Bank, Leading to Arrest
**Mumbai, [Date]** – A routine Reserve Bank of India (RBI) audit of the New India Cooperative Bank in Mumbai has uncovered a massive ₹122 crore cash discrepancy, leading to the arrest of a senior bank official. The irregularities were discovered during an inspection of the bank’s Prabhadevi corporate office and Goregaon branch on February 12th.
According to a statement from a senior bank employee present during the audit, RBI officials discovered a significant shortfall between the cash physically present and the bank’s records. The discrepancy, totaling ₹122 crore, was found after several hours of counting cash in the bank’s safes. Additional discrepancies were also found at the Goregaon branch.
Following the discovery, the RBI officials questioned senior bank employees, including the General Manager (GM) and Head of Accounts, Hitesh Mehta. Mehta subsequently confessed to embezzling the funds, allegedly distributing the money to associates and beginning the scheme during the COVID-19 pandemic.
An FIR was initially filed with the Dadar Police before being transferred to the Mumbai Police’s Economic Offences Wing (EOW). A search of Mehta’s residence on Saturday resulted in his arrest. The EOW is currently investigating Mehta’s financial transactions and searching for potential accomplices. The investigation is ongoing.
First Piper 