Suspicious Net-Banking approval triggers probe

Chhatrapati Sambhajinagar

A controversial decision by the Indian Bank to grant net banking access to a high-value account without the required documentation has raised alarm bells. The approval, granted through an unofficial email ID, has sparked a police investigation into the matter. The District Sports Committee’s account, which holds millions of rupees, was granted net banking after a suspicious email request, bypassing standard procedures.

Typically, net banking requests require a formal letter from the deputy director, but in this case, the approval came without the necessary hard copy. The email was sent from an unauthorized ID, leading to questions about the bank’s internal controls and the identity of the official who approved the request.

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Harshkumar Kshirsagar's role in the Scam

The mastermind behind this scam, Harshkumar Kshirsagar, is currently under intense police interrogation. Along with his family members, Harshkumar faces multiple charges related to the fraudulent transactions. Recently, a court denied bail applications for two of his associates, Yashoda Shetty and Jeevan Karyappa Vindda.

In a startling revelation, police discovered that just before the scam was exposed, Harshkumar gifted his mother jewellery worth Rs 15 lakh on Saturday.

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Millions were seen, the mother quit her job

Harshkumar's father, a ninth-grade graduate, was a carpenter by profession. His mother worked as a security guard at a hospital near the Shahnoor Miyan Dargah. Six months ago, after her son started bringing home millions of rupees, she resigned from her job citing health reasons.

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Bank's unexplained approval

The District Sports Committee's account, managed through Indian Bank (formerly Allahabad Bank), has always operated with transactions processed through cheques and RTGS, with the deputy director being the sole authority to sign off on transactions.

Despite the bank's usual protocols, the approval for net banking was granted after Harshkumar sent an email, claiming to have the deputy director’s name and signature. The account under the District Sports Committee’s name has transactions only authorized by the secretary, and all payments are processed via cheque or RTGS.

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The Investigation Intensifies

Police are now questioning the bank’s decision to bypass established procedures. "We are investigating why net banking was approved based solely on an email and are seeking to identify which bank official authorized it," said PI Sambhaji Pawar from the Economic Offenses Wing.

The investigation continues as authorities dig deeper into the case, aiming to uncover the full extent of the fraudulent activities.