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.)
Featured Video Of The Day
NDTV In Ukraine: Odessa Resilient Despite Russian Attacks
Cryptocurrencies Are Huge Risks To Financial Stability, Says RBI Governor 35 Chennai Students In Hospital Due To Eye Irritation, Gas Leak Suspected 'Breaking Bad' In Chennai: Chemistry Student Hired To Cook Meth, 7 Arrested Russia's Firing Of ICBM On Ukraine Is Weapon's 1st Combat Use In History This Asian City Is Emerging As Sex Tourism Hub. It's Not Where You Think Maharashtra Chief Minister Pick Contentious For Both Ruling, Opposition Camps ISRO, Australian Space Agency Sign Agreement For Space Cooperation Madhya Pradesh Chief Minister Praises Israel For Pager Attack Brazil Police Call Ex-President Bolsonaro's Indictment Over 2022 "Coup" Plot Track Latest News Live on NDTV.com and get news updates from India and around the world.