The Economic Offences Wing (EOW) of the Crime Branch, Jammu, has registered a case following complaints forwarded by the Director, Anti-Corruption Bureau (ACB), J&K, alleging large-scale financial irregularities in J&K Grameen Bank.
The complaints, submitted by the bank’s Chief of Audits, Inspection and Vigilance, relate to alleged fraudulent activities at the Kaluchak and Surankote branches.
An internal enquiry found that at the Kaluchak branch, 58 loan accounts under 15 Joint Liability Groups (JLGs) and two Cash Credit Limit accounts were allegedly opened and operated fraudulently without the knowledge or consent of the account holders, resulting in a suspected fraud of around Rs 42 lakh. It further revealed that nearly Rs 12 lakh was allegedly diverted to bank accounts reportedly maintained in the name of deceased Senior Manager Bhagwan Singh Saini, while the remaining loan amount was allegedly withdrawn through ATMs.
The enquiry also disclosed that a daily wager engaged at the branch admitted to using Rs 2 lakh from one JLG loan account for personal purposes, following which recoveries were effected in two accounts.
In a separate complaint relating to the Surankote branch, allegations have been made against Branch Head Rohit Kumar and others regarding unauthorised transactions and debits amounting to Rs 7.37 lakh, besides the fraudulent sanction and withdrawal of loans worth around Rs 19 lakh through five fake loan accounts allegedly opened without the borrowers’ knowledge or consent. The accounts were subsequently shown as settled or closed, reportedly to reconcile the branch’s cash position.
