Shamrao Vithal Cooperative Bank in Bombay is in trouble. It is one among the five top urban cooperative banks of the country.
Gold ornaments worth Rs 86 lakh have disappeared from its locker. There are allegations that the locker in-charge himself has stolen the gold ornaments.
Police investigations have confirmed that P.V. Nalawade the locker custodian took away the ornaments by using duplicate keys and sold them on the market.
Mr Nawade is already in police custody and police is close to catching those who have been complicit in the crime.
Police has called upon banks to have experienced and ranking officers as the locker custodians so that such incidents do not recur.
People associated with cooperatives say such incidents in a hitherto reliable bank like Shamrao Vithal leads to flight of trust from urban cooperative banks .