CBI books two Rajasthan Marudhara Gramin bank managers for alleged KCC loan fraud

New Delhi [India], June 25 (ANI): The Central Bureau of Investigation (CBI) has booked two branch managers of Rajasthan Marudhara Gramin Bank (RMGB) for allegedly siphoning off funds from the exchequer by sanctioning Kisan Credit Card (KCC) loans on forged documents.

The agency is investigating multiple cases of KCC loan fraud involving more than Rs 3 crore.

The accused named in the FIR are Sheel Kumar, Branch Manager, and Satish Nanda, Assistant Manager. Both were employed at the Satyaya Branch in Jaisalmer district.

RMGB is a joint venture of the Government of India, the Government of Rajasthan, and the State Bank of India.

An internal inquiry into the alleged irregularities in KCC accounts revealed that the officials had sanctioned and disbursed 38 KCC loans under the scheme during the year 2022, totalling Rs 3.21 crore.

The KCC loans were processed and sanctioned without following the prescribed norms/rules of the bank.

The FIR states, “It has been revealed that during the year 2022, they fraudulently and with the criminal intention to cheat the bank, opened 38 KCC loan accounts. They processed and sanctioned 38 KCC Loan Accounts based on forged land documents i.e., Girdawari, Search Report, Map, and Land certificate etc.”