SBI Chief Manager jailed for ₹61 lakh fraud in Mysuru

A former Chief Manager of the State Bank of India (SBI) Chamundipuram branch, A. V. Kulkarni, has been sentenced to one year of rigorous imprisonment by a court in Mysuru. The sentencing follows his conviction for criminal breach of trust involving the misappropriation of ₹61.57 lakh.

Between May 2009 and December 2011, Kulkarni diverted ₹40.53 lakh from the account of a deceased customer, Krishna Iyer, who had passed away in 2005. He also diverted ₹21.04 lakh from the bank’s internal accounts, transferring the total sum into his own and his son’s accounts.

Following an internal inquiry, Kulkarni admitted to the wrongdoing and repaid ₹62 lakh to the bank. The First Additional Chief Judicial Magistrate Court, presided over by Judge V. Prakash, also imposed a fine of ₹50,000, with ₹40,000 designated as compensation to the bank.