Kozhikode: After a period of uncertainty, the Punjab National Bank has paid Kozhikode Corporation about Rs 33 lakh as interest on the Rs 12.68 crore swindled from its bank accounts by a former employee. 

Earlier, the bank returned the money withdrawn by former senior manager M.P. Rijil from Corporation's various accounts in the PNB's link road branch here. In a Corporation council meeting held on Thursday, Deputy Mayor C.P Musafir Ahammed informed that the bank had returned the interest received over the deposit. 

Though the bank had returned all the money in two instalments, the interest amount was pending.  The Corporation repeatedly notified the bank of the amount. Meanwhile, Corporation has initiated steps to move their deposits to accounts in the State Bank of India (SBI). 

Last December, Rijil was arrested in the scam and was later released on bail. Meanwhile, it is reported that the probe by the Crime Branch is nearing completion. 

The accused swindled at least Rs 21 crore from various accounts in PNB, including that of the Kozhikode Municipal Corporation. The missing amount came to the attention of the bank authorities during an audit on November 2022.

Later, it became clear that the accused allegedly transferred funds into those of his relatives and his own accounts.