Bhubaneswar, April 23 -- A major financial irregularity exceeding Rs 1 crore was uncovered at the KCC Bank in Odisha's Malkangiri district on Thursday, leading to swift action by authorities. The department has suspended bank manager Shubhendu Khara after a complaint was lodged at the police station. The case has exposed serious lapses in financial handling within the bank.

Investigations revealed that the manager allegedly misappropriated Rs 1.07 crore. The matter came to light after discrepancies were detected in transactions involving local cooperative bodies.

Reports indicate that the branch in-charge of Malkangiri LAMPS handed over Rs 77 lakh directly to the manager instead of depositing it in the KCC Bank. The manager allegedly is...