The police also seized 54 SIM cards, and several cheque books and debit cards.
The accused, identified as Gaurav, executed the fraud along with his brother, and as per the police's estimation, looted around Rs 75 lakh from the people.
"Posing as a bank official, Gaurav used to call customers and ask for their bank account details or debit card details, while his brother rigged the banking database to register his phone number with these accounts," the DCP of South East, Chinmai Biswal informed, and added that the culprits didn't ask for any password that raised no suspicion in the prospective victims.
In the next step, the two would transfer money via e-wallet, as the One Time Password (OTP) would be sent to their phones.
The police suspected connivance of bank staff in the fraud, given that it was not possible to change the registered mobile number of customers without the help of a bank official.
Meanwhile, Gaurav's brother and another friend are on the run and a probe is underway to nab them. (ANI)