More than a half a century later, the Nagarwala case – the scam that shook the nation – remains as enigmatic as ever and not only because of the then-mind-boggling sum of Rs 60 lakh that was withdrawn from a public sector bank on a mere verbal command over telephone, purportedly from the highest echelons of the government in the power at the Centre. In 1971, Rs 60 lakh was no joke – the amount would have been Rs 170.62 crore in 2024 (as per https://scripbox.com/plan/
It was on May 24, 1971, that V.P. Malhotra, chief cashier of State Bank of India, Parliament Street branch, received a purported call from Indira Gandhi and P.N. Haksar, secretary to PM to deliver Rs 60 lakh for a secret mission in East Pakistan.
“I am the PM of India Indira Gandhi speaking. As my secretary has just now informed you Rs 60 lakh is urgently required in Bangladesh for an important secret work. Get it ready quickly. I am sending my courier. At the place indicated by Haksar, had…