The Chennai Police has arrested a person for forging RBI permission certificate for running a bank in different parts of the state.
Fake passbooks, deposit forms, debit and credit cards among others were found in his possession, a police release said.
The man identified as Chandrabose, operated the Rural and Agriculture Farmers' Cooperative Bank (RAFC) in 9 cities including Chennai and Erode.
Action against him was taken based on a complaint from the Reserve Bank of India (RBI).
The arrested man even procured credit cards of another bank and pasted his 'bank's' sticker on them to be given to customers, police said.
There was no permission from RBI for Chandrabose to run the bank and he had forged a permission letter, they said.
"He has some idea of banking.. had prepared passbooks, deposit slips..." Chennai Police Commissioner Shankar Jiwal said.
A luxury car was recovered from him while Rs 56.65 lakh money held in the fake bank's deposit has been attached.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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