SBI chief manager sentenced to jail for diverting funds from deceased customer’s account

The chief manager of a State Bank of India (SBI) branch in Mysuru was sentenced to one year in jail by a city court for misappropriating funds from the account of a deceased customer and the bank’s internal account.

The First Additional Chief Judicial Magistrate Court, which heard the case, also imposed a fine of ₹50,000 on the chief manager of SBI’s Chamundipuram branch A.V. Kulkarni, besides sentencing him to rigorous imprisonment for one year.

The court has further ordered that ₹40,000 out of the fine amount be paid to the bank as compensation.

Between May 13, 2009, and December 23, 2011, the accused allegedly misused his official position and transferred ₹40,53,000 from the account of one Krishna Iyer, who had died on April 7, 2005.

He also transferred ₹21,04,127 from the bank’s internal account.