JAIPUR: A case under various sections of the Indian Penal Code (IPC) and Prevention of Corruption Act (PCA) has been registered against I C Chundawat, currently posted as manager at the Abu Road branch of the
Punjab National Bank (
PNB), for allegedly sanctioning and disbursing micro units development and refinance agency (Mudra) loans of nearly Rs 64 crore without proper verification of account holders on Thursday.
Following this, two
CBI teams of Jodhpur began raids at the office and residential premises of the PNB official at Pali and Abu Road.
The Mudra loan is a scheme under the
Pradhan Mantri Mudra Loan Yojana (PMMY) to fund micro and small enterprises.
CBI sources said that Chundawat had misused his official position while working as the senior branch manager of PNB, Barmer, during a short period of between September 2016 and March 2017. "He had fraudulently sanctioned and disbursed 26 Mudra loans," a CBI officer said.
Representative image
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