A racket in the issue of agricultural loans in the name of non-existent or dead persons has come to light from the Karchuli rural branch of the State Bank of India (SBI) in Ganjam district of Odisha.
Based on a complaint by the present branch manager, a case has been registered at the Buguda police station under Sections 468, 471, 409 and 420 of the Indian Penal Code (IPC).
Bhanjanagar Sub-Divisional Police Officer Utkal Keshari Dash said till now inquiry at four villages has brought to light 16 non-existent beneficiaries in whose name agricultural loans were issued.
It is suspected that a former manager and staff of the bank branch might be involved.
Interesting development
In an interesting development, the former manager concerned deposited Rs. 7,67,000 in the bank on Sunday.
“But the police will continue its investigation and track down everyone involved,” said Ram Chandra Biswal, the inspector in charge of the Buguda police station.
The amount returned to the bank matches with the alleged total amount issued as agricultural loans to fake beneficiaries.
All the agricultural loans had been issued by this SBI branch in 2014-15. Some of the loans had been issued in the name of persons like Barik Naik of Udaypur, who died 18 years ago.
During investigation, several persons in whose name loans had been given could not be traced.
According to the SDPO, the police will also investigate the modus operandi through which these agricultural loans were issued in the name of dead or non-existent persons.
“We will investigate whether fake documents were used for the purpose,” he added.