KATHMANDU – It has been revealed that more than 1.19 crore rupees kept in the account of Prabhu Bank has been embezzled. The amount kept in the savings account of Prabhu Bank, which operates in Birtamod in Jhapa, has been misappropriated.

According to information received by Banking News, employees working at the same branch of the bank embezzled the money and absconded. Sources told Banking News that Pramod Sitaula, an employee of the branch, embezzled the money and absconded.

The situation is that the amount of Rs 1 crore 19 lakh in Manju Nepal’s account has been embezzled. She is the wife of Jhapa journalist Tikaram Neti Nepali. According to Nepal, who contacted Banking News, Sitaula, working as a branch employee, embezzled the amount.

Nepal also informed that the employee of the bank branch has not been in contact with Sitaula since last Wednesday. Some time ago, Nepal and his wife went to America to meet their sons. “Before leaving for America, Sitaula used many pretexts to withdraw the balance in his wife’s account,” Nepal told Banking News.

What happened? How did the embezzlement occur?

Out of a total of Rs 1.19 crore deposited by Nepal’s family in that branch of Prabhu Bank, Rs 1.19 crore was made as a ‘fixed deposit.’ Shortly after that, they flew to America, and before flying to America, there was a reluctance to withdraw the money that was not deposited in the fixed deposit account.

After the couple returned from the US, the ‘fixed deposit’ matured after six months. “When the amount kept in the fixed deposit account matured, when I went to withdraw, the bank replied that there were only 2 lakh rupees in the bank account,” Nepal told Banking News.

By holding a press conference, Nepal said that more than 1.19 crore of their money was embezzled. He also stated that he has enough evidence about this and will disclose it as necessary. Nepal also mentioned that he had met with Pramod Sitaula in a cafe to discuss the matter of the money in the fixed deposit account.

He escaped by hanging himself on the staff. “He said he was going out to buy medication for gastritis,” added Nepal. After this, the police issued a warrant and searched Sitaula’s bag. It is reported that dozens of cheques, ATM cards, and bank vouchers were found, which were used to withdraw money by signing checks in various names.

Similarly, advocate Swagat Nepal says there is a provision to take action against any bank and financial institution when it acts against the interests of its employees. He also stated that in such cases, the bank will take action. According to him, trust in banks is being lost due to such activities. Swagat said that if bank employees engage in such activities, trust in the banking system will be lost, and these activities will affect the economic sector. “Those bank employees have also engaged in various activities with other customers, going beyond the bank’s policy,” said Nepal.

What does Nepal Rastra Bank say?

Ramu Paudel, the spokesperson of Nepal Rastra Bank, said that he had informally received information about the embezzlement of Rs 1.19 crore. In a conversation with Banking News, Paudel said, “There is no official information about this yet.” Paudel mentioned that if a complaint is made by the victim, there will be an inspection, and the investigation process will be carried out through the ‘autonomous’ media.

What does Prabhu Bank say?

A high-ranking employee of Prabhu Bank mentioned that this type of incident in the business of Jhapa would create an atmosphere of distrust in the entire banking sector. “It has been found that the accused employee and the victim are good friends,” the employee told Banking News. “However, this does not automatically confirm the involvement of Prabhu Bank employees. Otherwise, if someone makes an allegation, the involvement of Prabhu Bank employees will not be automatically confirmed.”