Cash gone, records intact: No bail to Gujarat SBI officer who ‘siphoned’ Rs 1.93 crore
A senior State Bank of India (SBI) officer in Gujarat, Bangmoy Chakravarti, allegedly stole Rs 1.93 crore from the bank without being granted bail. The Gujarat High Court rejected his second bail plea, describing it as a "serious white-collar economic offence." Chakravarti, who has been in custody since November 28, 2025, is accused of manipulating ATM and bank records to withdraw the cash while the bank’s system continued to display the cash as deposited.
The court accepted digital evidence, including CCTV footage and phone location data, linking Chakravarti to the ATM withdrawals. He allegedly concealed the shortfall by making entries in the bank’s Core Banking System, indicating cash deposits when, in fact, the cash had not been deposited. The prosecution traced the misappropriated money to Chakravarti’s accounts and those of his relatives in Uttar Pradesh, Bihar, and Jharkhand, which were then moved to ICICI Bank through UPI, RTGS, and NEFT transactions.
The court emphasized the need for strict bail conditions due to the severe nature of the offence, noting that economic offenders who evade justice harm the entire community.
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