Man arrested in Chennai for opening ‘bank’ with forged RBI permission

Police in Chennai have arrested a person for forging RBI permission certificate for running a bank in different parts of Tamil Nadu.

Action against the accused, identified as Chandrabose, was taken based on a complaint from the Reserve Bank of India (RBI), PTI reported.

Police said there was no permission from RBI for Chandrabose to run the bank and he had forged a permission letter.

Chandrabose reportedly operated the Rural and Agriculture Farmers’ Cooperative Bank (RAFC) in Chennai, Erode and 7 other cities.

Fake passbooks, deposit forms, debit and credit cards among others were reportedly found in his possession.