Dear sir/Madam,

I acknowledge receipt of the Show Cause Notice dated 21/05/2025 regarding complaint number DC-FY-2025-01385. I appreciate the opportunity to provide an explanation regarding this matter.

To clarify, Mr. Rajesh Chinthamanu (Emp. ID: SF0084004), a Loan Officer at the Allagadda branch, was involved in the theft of ₹1,93,584/-. He has already repaid ₹93,584/- in March 2025, leaving a pending balance of ₹1,00,000/-. We have obtained his explanation letter and continue to follow up with his family regarding the recovery of the outstanding amount.

As Vice President, I am responsible for ensuring smooth operations within the region. We have actively initiated efforts to recover the remaining amount from Mr. Chinthamanu and his family. However, despite our ongoing efforts, the recovery process is still in progress. Additionally, our team was unable to collect evidence on time due to initial misclassification of the incident. The Cluster Manager had initially reported the case as fraud, whereas it was actually a theft. Consequently, the case could not be closed within the stipulated turnaround time (TAT).

I want to emphasize that my intent has always been to adhere to company policies and ensure compliance with all procedures. I regret any unintended delay in addressing the matter and assure you of my commitment to fulfilling my responsibilities in accordance with company standards. If required, I am prepared to take corrective measures to ensure stricter adherence to all processes moving forward.

Please let me know if further clarification is needed. I remain available for any discussions to resolve this matter.

