An immense financial scam concerning the Post Office Monthly Income Scheme (MIS) and Recurring Deposit (RD) accounts has come to light in Navi Mumbai, which has not only infuriated the investors but also shaken the confidence in the management of small savings plans.

Preliminary investigations suggest that over ₹30 lakh was misappropriated through the manipulation of customer accounts at a local post office. Officials suspect the involvement of a postal agent, Kamini Padenekar, along with several department staff members, who allegedly exploited their positions to siphon off investors’ funds.

Among the victims is Lachhmi Bhatt, an NRI, who reportedly lost ₹7 lakh from her account. Several other investors have also suffered significant losses, leaving them in financial and emotional distress.

Despite submitting complaints and documentation, victims claim there has been little progress in recovering their money or holding the accused accountable. The delay in investigation, they say, has only deepened their hardships.

Speaking to Bizz Buzz, Lachhmi Bhatt said, “We want an immediate suspension and investigation of the officials and agents involved. Our hard-earned money must be returned.”

Another depositor, requesting anonymity, added, “Authorities must ensure recovery and reimbursement of the defrauded amounts. We trusted the postal system with our savings.”

The victims have appealed to India Post, the Postal Department, and the Ministry of Communications to take urgent action and strengthen internal monitoring systems to prevent such incidents in the future.

A person aware of the matter noted that the episode has “shaken public confidence in postal savings schemes,” long considered one of the safest investment options for the common man, senior citizens, and rural depositors.

As calls for accountability grow louder, investors are urging authorities to ensure strict action and full restitution, to restore faith in India’s trusted postal savings network.