Punjab National Bank (PNB) (Express/Representational/Files)
The CBI has booked the manager of a Punjab National Bank (PNB) branch in Rajasthan for allegedly cheating the bank and the government of more than Rs 2 crore in subsidies and fraudulent loans. The CBI has alleged that Inder Chand Chundawat had opened a fictitious account through which he swindled Rs 1.57 crore worth of government scheme money. He also allegedly swindled Rs 62.4 lakh of Pradhan Mantri Mudra Yojana (PMMY) money by fraudulently granting loans to ineligible people, who are suspected to be fictitious. The CBI has registered two separate cases against Chundawat in the two matters.
According to the FIR, in the first case, Chundawat opened an account in the name of one Sugna Devi at Gagria branch of the bank in Barmer, which he was heading, in 2011. He then “dishonestly and fraudulently deposited huge amounts in this account in the form of various subsidies provided by the government under different government schemes during the period between August 2011 and June 2012,” the FIR said.
Probe found that the account was fictitious and opened by Chundawat as even the account opening form was not available in bank records. Cash and transfer vouchers related to the account were also not there in the records, the CBI said. Through the account, a total of Rs 1.57 crore was swindled allegedly by the branch manager.
In the other case, Chundwat, when posted as manager at Barmer branch between September 2016 and March 2017, allegedly fraudulently sanctioned 26 Mudra loans causing a loss of Rs 62.4 lakh to the bank. While Mudra loan does not require a collateral, after disbursal, the debtor has to create assets which become the bank’s security. These assets are inspected by the bank.
According to the FIR, Chundawat granted loans to many people who were not even residents of Barmer. No assets were created by these debtors and the only inspection that was carried out of these loans and assets was by Chundawat himself.
The FIR said that PNB had conducted an inquiry into the matter and suspended Chundawat, but he was recently reinstated and is presently posted as branch manager of Aburaod branch of PNB.
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