Mumbai Bank Scam: RBI Finds Rs 122 Crore Missing at New India Cooperative Bank

A massive banking fraud has been uncovered at New India Cooperative Bank in Mumbai. During a routine audit, the Reserve Bank of India (RBI) found that Rs 122 crore in cash was missing from the bank’s records.

How RBI Discovered the Scam

The shocking irregularities came to light when RBI officials conducted an audit at:

• The bank’s corporate office in Prabhadevi
• The Goregaon branch

Senior officials from New India Cooperative Bank, including the General Manager (GM), Assistant General Manager (AGM), and Head of Accounts, Hitesh Mehta, were present during the inspection.

What Went Wrong?

• RBI officials checked the bank’s main safe on the third floor using keys given by an employee, Atul Mhatre.
• Another team inspected the safe at the Goregaon branch.
• After hours of counting, RBI found a huge difference between the actual cash and bank records.
• A total of Rs 122 crore was missing from the safes.
• The RBI team immediately warned the bank’s staff about serious legal consequences.

Hitesh Mehta Confesses to Fraud

During the probe, Hitesh Mehta, the Head of Accounts at New India Cooperative Bank, was questioned privately.

• He admitted to siphoning off the money.
• When asked about the missing cash, he said he distributed it to people he knew.
• Mehta also revealed that he began stealing funds during the COVID-19 pandemic.

Police Investigation & Arrest

• The Dadar Police registered an FIR before transferring the case to the Economic Offences Wing (EOW).
• On Saturday, EOW officials raided Mehta’s house in Dahisar.
• He was arrested and is now under investigation.

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What Happens Next?

Authorities are now:

✅ Checking Mehta’s financial records to track the missing money.
✅ Identifying possible accomplices in the fraud.
✅ Investigating how the funds were misused and if they can be recovered.

This is a developing case, and further updates are expected soon. Stay tuned for more details!