The deceased, Vijay Kumar was posted with the Ellaqui Dehati Bank (EDB), sponsored by State Bank of India.
State Bank of India (SBI) had approached the Rajasthan High Court seeking a CBI probe into the matter as the missing amount was higher than Rs 3 crore.
A group of SBI officials who reached Panalil Sasi's house to attach the property were moved by the family's sad plight. What followed was an exemplary story of humanity and compassion.
The company was sanctioned credit facilities from 28 banks and financial institutions led by ICICI Bank with the SBI having exposure of Rs 2468.51 crore, the officials said.
The bank's move has elicited criticism from several quarters, including from the All India State Bank of India Employees' Association.
Any new tax like wealth tax or others at this point could do more harm than good, SBI Research has cautioned ahead of the Union Budget to be tabled in the Parliament on February 1.
The VLC service, a first in India, is available from Monday, SBI said. Submission of life certificate is necessary to continue receiving the pension.
It is alleged that the property worth about Rs 200 crore was sold for Rs 25 crore by declaring it Non-Performing Asset.
'There ain't no such thing as free lunch,' is an adage which almost all of us know but prefer to ignore at the slightest hint of someone offering something for free, often even if it is of no use to us.
Hundreds of people, including a sub-inspector of police in Thrissur, have fallen prey to the fraudsters across Kerala within a week.