Court sends ex-GM to 5-day police custody in Mumbai bank scam.

• Former General Manager Hitesh Pravinchandra Mehta, 57, was sent to five days’ police custody for allegedly embezzling ₹122 crore from the bank.
• The bank’s safe deposit box was found with ₹70 crore in possession of Dharmesh Jayantilal Paun, a builder.
• Unnathan Arunachalam, alias Arunbhai, is a wanted accused in the case.
• The police remanded the accused and called for further investigation to identify those who assisted in embezzling cash.
• The arrest follows RBI restrictions on the bank’s operations due to liquidity issues.
• The RBI also directed the bank to not allow customers to withdraw money and assure them deposits would be insured up to ₹5 lakh.