Mumbai: The Mumbai-based Raghuvanshi Cooperative Bank has suffered losses in government securities transactions with the brokerage firm Home Trade. Top Mumbai police officials say Raghuvanshi Bank has lost about Rs 8 crore in its dealings with the dubious firm.

Investigations are on, even as the police froze the brokerage firms bank accounts. The economic offences wing of the Mumbai police is continuing its search for the six absconding directors of Home Trade.

Asked whether any other Mumbai bank is involved, assistant commissioner of police (crime branch) R M Sarnaik, who is in charge of the investigation, said: As of now Raghuvanshi is the only Mumbai-based bank known to us. The others are outside Mumbai. About any other bank is involved, we will find out as investigation progresses.

The other banks involved in the multi-crore securities scam are Nagpur District Central Cooperative Bank, Wardha District Central Cooperative Bank, Satguru Jungli Maharaj Cooperative Bank and Osmanabad District Central Cooperative Bank.