Kanakrai Upadhyaya, branch manager of Union Bank of India, Race Course branch, Rajkot has been alleged for embezzlement of a sum of Rs 15.55 lakh from the bank funds for his personal use.

A complaint was filed against Upadhyaya in Pradyumannagar police station, based on an order issued by Reserve Bank of India.

The police received a complaint from manager of the bank's headquarters (Mumbai), alleging that the manager of Race Course branch, Rajkot, Kanakrai Upadhyaya has misappropriated a sum of Rs 15.55 lakh from the bank for his personal use.

"The complainant alleged that after using the money, as it came to the notice of other bank officials, Upadhyaya deposited the amount back in the bank," the police official confirmed.