Rain likely to lash Odisha as low pressure area forms in Bay of Bengal
It was expected to lie over North West Bay of Bengal in the evening of Saturday and intensify into a depression over the same area on Sunday, it said.
The Economic Offences Wing (EOW) of Odisha police has arrested two bank officials for allegedly siphoning off Rs 3.33 crore loan amount while keeping the borrowers in the dark under the Central Kisan Credit Cards (CKCC) and Prime Minister Employment Generation Programme (PMEGP) schemes.
The accused have been identified as Dambarudhar Nayak and Devidutta Panigrahi, who were working as branch manager and agricultural finance officer, respectively, at Central Bank of India, Bhadreswar branch in Cuttack district.
According to police, the two resorted to unauthorized sanction and fraudulent transactions from 18 September, 2015 to 11 November, 2018. They had carried out fraudulent transactions in 68 Central Kisan Credit Cards (CKCC). Besides, the duo had illegally diverted the Term Loan accounts apart from the Govt. subsidy, causing a loss of Rs.3,33,52,602.03 (Rs 3.33 crore) to the bank, said EOW in a statement.
Advertisement
The case was registered on the allegation of Anadi Biswas, Regional Head, Central Bank of India, Regional Office, Bhubaneswar, against the arrested accused persons.
The duo had sanctioned the loan in the name of different borrowers regardless of their eligibility and also without the knowledge and consent of the borrowers.
Besides, they raised the limit of the loans fraudulently beyond the knowledge of the borrowers. They deliberately created and used the forged documents to sanction the loans. Later the accused persons misappropriated all the loan amounts.
Meanwhile the accused Nayak has already been dismissed by the bank whereas disciplinary action has been initiated against accused Panigrahi.
Several incriminating documents have been seized during investigation including the loan documents, EOW added.
Advertisement
