A multi-crore fake cheques scam estimated to the tune of Rs.52 crore was exposed in Kanpur main branch (Mahatma Gandhi Marg) of State Bank of India.

The top management reacting swiftly suspended seven bank officials, including one assistant general manager (Ajeet Gupta) and two other chief managers (Jaideep Banerjee, and Vineet Kannaujiya) on Wednesday.

Sanjay Dixit, deputy general manager also found involved in the case was suspended on Thursday.

The fraud which was detected Tuesday evening by SBI's audit team based in Hyderabad, involved clearing of fake cheques in the bank account of an influential petrol pump owner and his associates. The beneficiaries are believed to have fled country.

A special vigilance team from the state head office (Lucknow) was asked to visit the main branch in Kanpur immediately, to look into the matter. The team included senior regional officials of the bank, including BV Chaubal, chief general manager and Arun Sarin (general manager).

Another team from Hyderabad also arrived on Thursday to look into the matter.

Describing it as "biggest fraud in the Lucknow-Kanpur region in recent decades," a senior official of the bank indicated the possibility of "more heads rolling" over the next few days.

The case has been referred for investigation to Central Bureau of Investigation, though the in-house vigilance team of the bank will also continue interrogation.