Police registered the case on February 23, 2026, and a Special Investigation Team led by IPS Ganga Ram Punia is digging deeper.
So far, 11 people have been arrested, including six bank employees and several private individuals, among them a former branch manager.
Over 100 bank accounts are frozen, luxury cars and devices have been seized in raids, and most of the accused are in custody.
The bank has reimbursed the full principal and interest claimed by the affected departments, but its shares have dropped sharply since news broke.