Srinagar, Aug. 14 -- The fraud came to light in June this year when the bank's Branch Operations Transformation and Control (BOTC) wing detected a mismatch between physical cash holdings and electronic records. Following an internal probe, HDFC Bank lodged an FIR (168/2025) at Shopian Police Station against two former branch managers, Irfan Zargar and Aadil Ayub, accusing them of diverting funds using forged documents, fake signatures, and bogus receipts.

The FIR cites sections 316(5) (criminal breach of trust), 318(4) (cheating), 336(3) (forgery), and 340(2) (using a forged document or electronic record) of the Bharatiya Nyaya Sanhita, along with section 66(C) of the IT Act, which deals with fraudulent use of electronic signatures, pass...