A 19 year old man was allegedly held for running a duplicate branch of State Bank of India at Panruti, Tamil Nadu.
The accused is identified as Kamal Babu.
It has been reporrted that the Babu's father passed away 10 years ago and his mother Lakshmi retired from a bank two years ago.
Kamal, who was unemployed, came up with the idea of duplicating a branch of SBI.
The duplicate SBI branch was opened three months back.
The incident came into light when an SBI customer recognised it to be fake and informed his Branch manager.
Later, the matter escalated when it was found that there are two branches of SBI are running in Panruti, there was no third branch opened in the area.
As per sources, it was informed that the police arrested three people including the mastermind, Kamal Babu, an unemployed youth whose parents were former bank employees. The other two who were arrested by the police, include a person, Kumar (42), who runs the printing press from where all the receipts, challans were printed and the other person, Manickam (52), owns a rubber stamp making company, printed rubber stamps.
It is to be noted that through investigations, it disclosed that the 19 year old aspired to work for a bank and since he had closely watched banking operations for long he was "very knowledgeable" about it.