Eight officials of Kanpur SBI suspended after fraud

A fraud has been detected in the main branch of the State Bank of India here in which officials are said to have connived with a private company in drawing huge amounts of money.

Arun Sarin, general manager of the bank's Lucknow circle, told reporters here that the bank will ask for a CBI probe into the matter.

He said the local company had several accounts in the bank and its officials were "well-known" to the bank personnel and the fraud could be to the tune of Rs 40 crore.

The matter came to light last month and an inquiry was set up by the bank which found its deputy general manager, assistant general manager and six others allegedly involved.