News By/Courtesy: Parimala Ronanki | 15 Apr 2021 15:10pm IST


  • guard ran away with Rs. 4.04 Cr from the Chandigarh axis bank.
  • on whom does the responsibility of loss lies upon.
  • guard's run ends.

Axis bank in sector 34 in Chandigarh from this branch Rs. 4.04 crore have been stolen by a private security guard from the currency chest. This is the first time in Chandigarh such a big amount is stolen from a bank. Before few crimes have been reported but those were regarding the robbery of jewellery item etc. the highest amount was stolen was when jewellery worth Rs. 12 crores was stolen from a leading jewellery showroom in 2012. But like this directly from a bank by the guard is the first time. Currency chest A currency chest is a place where the Reserve bank of India stocks the money meant for banks and ATMs. These currency chests are situated on the premises of different banks but administrated by RBI. Usually, in branches, the security room where all currency is kept or stored is also known as the strong room. In that strong room itself, a place is given where it is called a currency chest. So, from time to time the representative of RBI come to inspect the currency chest and update their senior officer about it. So here the money is present in the currency chest belongs to the RBI but the strong room outside the currency chest belongs to the bank. This means the money is present in the strong room wherein one part of this strong room is present. So, here in the case of Axis bank, sector 34, the stolen money of Rs. 4.04 crores were stolen from a currency chest that belongs to RBI. So, here the question arises is who is liable for the loss? Here whatever the amount that will come and go in this currency chest is governed by the RBI. But its maintenance, security is the responsibility of the bank in which the currency chest is situated and is liable to fulfil the loss of the currency chest. So, in the present case axis bank have to fulfil the losses. There is a certain category of loss. But in case of theft, robbery, fraud happens in the currency chest which is situated within the premises of the bank, then the bank is considered responsible. The security of the chest is subjected to the bank. For the expenses like security expenses to the bank are reimbursed by the RBI as per the set norms. Apart from that transportation costs like the money from chest have to be transported to other bank such costs are reimbursed. In the current case, the management of Axis bank has hired Punjab Police personnel for the security of the currency chest. The security guard name Sunil Kumar is an employee with the MSF security agency, hired by the Axis bank along with the police personnel for the security of the currency chest. The purpose of double security was to maintain cross-check on the personnel. So here he stole the amount after breaking one of the trunks from the rear side. and the suspect has been caught today with 3.14 lakhs in hand and found that the remaining 4 Cr were hidden in a forest area was recovered near the Hallo Majra. and it was found that with the stolen money he bought a phone, clothes, done his bike repair and also threw a party in his rented house. He spent about 86 k on them.


This Article Does Not Intend To Hurt The Sentiments Of Any Individual Community, Sect, Or Religion Etcetera. This Article Is Based Purely On The Authors Personal Views And Opinions In The Exercise Of The Fundamental Right Guaranteed Under Article 19(1)(A) And Other Related Laws Being Force In India, For The Time Being. Further, despite all efforts that have been made to ensure the accuracy and correctness of the information published, 5thVoice.News shall not be responsible for any errors caused due to human error or otherwise.

Section Editor: 5thVoice.News | 17 Apr 2021 12:32pm IST

Tags : #theft #currency chest

Latest News

Copyright Kalyan Krishna MediaZ Private Limited. All rights reserved. Unless otherwise indicated, all materials on these pages are copyrighted by Kalyan Krishna MediaZ Private Limited. All rights reserved. No part of these pages, either text or image may be used for any purpose. By continuing past this page, you agree to our Terms of Service, Cookie Policy, Privacy Policy and Content Policies.