Bank CEO arrested for taking bribe of Rs 1 Lakh in Machilipatnam

Krishna District Co-operative Central Bank Chief Executive Officer N Rangababu was arrested by the Anti-Corruption Bureau (ACB) for allegedly accepting a bribe of Rs 1,00,000 on Tuesday evening, police said.

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Caught red-handed

According to the bureau ASP, S Saikrishna, the bank CEO was caught red-handed while accepting the bribe from complainant K Lakshmi Nancharaiah.

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Rangabbau had accepted the cover containing cash in favor of sanctioning Rs 7.58 lakh to the complainant for publishing and printing stationery for 2020, said, ACB officials.

A case had been registered against the bank official, the ASP said.

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