Hyderabad: CMS detects ₹1.20 Cr cash shortage in SR Nagar ATMs; case registered
On the first day, 13 ATMs were audited with no discrepancies found. However, during the continued audit on April 10, a shortage of ₹1,20,98,500 was detected in eight SBI ATMs.
By Newsmeter Network
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Hyderabad: A major cash discrepancy amounting to over ₹1.20 crore has been detected in several ATMs under the Sanjeeva Reddy Nagar police station limits.
According to Inspector Srinivas Reddy of Sanjeeva Reddy Nagar, a complaint was received from Naveen P, Branch Manager of CMS Info Systems Ltd., Secunderabad branch.
As per the complaint, CMS Info Systems handles cash management services for multiple banks, including SBI, Kotak Mahindra Bank, Indian Overseas Bank (IOB), Bank of Baroda (BOB), and IDBI. The company is responsible for replenishing cash in ATMs and collecting deposits from Cash Deposit Machines for remittance to respective banks.
The process is coordinated with Managed Service Providers (MSPs) such as FSS, CMS, FIS, and NCR, which monitor ATM cash levels and generate indents for cash withdrawal and replenishment. Based on these indents, CMS withdraws cash from banks, stores it in its vault at Diamond Point, Secunderabad, and later distributes it through designated routes for ATM loading.
Each route is handled by two custodians who manage around 30 ATMs. They are provided with separate passwords to access ATMs and are responsible for loading cash and addressing machine issues. Regular audits are conducted to verify the physical cash against system entries.
During a scheduled audit on April 9, the first custodian, Vasireddy Sriram, and the second custodian, Latif Saleem, failed to report for duty and were unresponsive.CMS auditor Srikanth proceeded with the audit of 31 ATMs in the SR Nagar area.
On the first day, 13 ATMs were audited with no discrepancies found. However, during the continued audit on April 10, a shortage of ₹1,20,98,500 was detected in eight SBI ATMs.
The company suspects that the custodians may have misappropriated the cash. Officials have requested the police to take necessary legal action against those responsible and recover the missing amount.
Police have registered a case and initiated an investigation into the incident.
