Bank manager held for fraud in disbursement of crop loans

BERHAMPUR: A branch manager of a nationalised bank was arrested in Ganjam's Sorada on Thursday for allegedly committing fraud in the disbursement of crop loans and misappropriation of the amount in 2014.
The accused, Narmad Naik, 59, the branch manager of State Bank of India, Sorada, allegedly committed the fraud when he was working as manager of the bank' Karchuli branch four years ago, said IIC of Buguda police station Ram Chandra Biswal.

On October 4, 2017, Udaya Nath Swain, the current manager of SBI, Karchuli branch, lodged an FIR with police against Naik after 16 borrowers did not repay the loan on the due dates and he found that such persons did not exist in the villages during the field visit. He also submitted relevant documents, including account numbers and copy of the bank audit reports, in support of the case to the police.

Police registered a case under section 420 (cheating), 409 (criminal breach of trust by banker) 467 (forgery of valuable security) 468 (forgery for purpose of cheating) and 34 (acts done by several persons in furtherance of common intention) against the accused, sources said.

"During our inspection, we found some people had died several years ago while others were not from the respective villages," the police officer said.

Police said the accused had readied fake documents in the name of dead persons and persons, who were not from the same village.

Official sources said 16 borrowers of six villages had availed the loans over Rs 7.50 lakh under Kisan Credit Card from the bank in 2014-15. Naik had sanctioned those loans.

Three borrowers were from B. Karadabadi, four from Udayapur, three from Singipur, four from Nimapalli and one each from Kunjabana and Bhagabanpur. The individual loan amount varies from Rs 50,000 to Rs 80,500.