The Central Crime Branch (CCB) of Chennai arrested S. Venkatesh, manager at HDFC Bank’s Velachery branch, for allegedly stealing gold jewellery and cash worth nearly Rs21 lakh from a locker belonging to an NRI customer, Swaroopa Rani Sivakumar. The customer had authorized her mother in Chennai to operate the locker.
During inspection, 238 grams of gold and a large sum of cash were found missing. The accused allegedly exploited his position as the locker vault in-charge to open the locker without authorization. Investigations revealed that 188 grams of the stolen gold were sold to a local pawn shop, while Rs20.6 lakh in cash was hidden inside a meeting room at the bank.
Police confirmed that preliminary inquiries showed misuse of access privileges. The swift action by the CCB led to the recovery of nearly all stolen assets. Venkatesh was produced before the XI Metropolitan Magistrate in Saidapet and remanded to Puzhal Central Prison. The pawn shop owner is cooperating with investigators.
The incident raises concerns about internal controls and security within banks, particularly for lockers held by NRIs. Experts emphasize the importance of rigorous checks, audits, and employee ethical training to prevent misuse of trust.
While the rapid recovery reassures customers, the case underscores the need for transparent banking processes and stricter supervision to maintain confidence in financial institutions.
