The manager of a reputed bank in Kohima district has been arrested on charge of fraudulent sanction and withdrawal of loan amounting to Rs 88.94 lakh against term deposit in the name of an individual account holder, police said today.
Following a complaint regarding fraudulent withdrawal by the branch manager, identified as Yichanpemo Yanthan lodged by an account-holder on April 21, police registered a case at Tseminyu Police Station, under Kohima district, SDPO (South) and PRO Kohima Police, Atu Zumvu said in a release yesterday.
The accused manager of the bank, Tseminyu was arrested during the preliminary enquiry, police said.
Police has confirmed that a fixed deposit of over Rs 1.71 crore was transferred from the bank's Kohima branch to its Tseminyu branch reportedly without the consent of the owner by allegedly forging his signature while also sanctioning the loan amount against term deposit.
Further investigation is in progress.
