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<h1>Economic Offences Wing Probes Rs 122 Crore Embezzlement at New India Cooperative Bank; General Manager, Former CEO Arrested</h1> The Economic Offences Wing is investigating a Rs 122 crore embezzlement case at New India Cooperative Bank, where the cash safe's retention limit was Rs 20 crore, but records showed Rs 133 crore. A physical check revealed less than Rs 20 crore was present. The bank's general manager, former CEO, and a real estate developer have been arrested. Discrepancies between actual cash and recorded amounts were noted. The former CEO allegedly received kickbacks, and the bank's proposal to extend his tenure was rejected by the RBI. The case was initiated following a complaint by the acting CEO and involves charges of criminal breach of trust and conspiracy.