Mumbai: On Friday, CBI arrested the chief manager of the Union Bank of India’s Juhu Santacruz branch after accepting a ₹90,000 bribe from a garment businessman. The bribe was allegedly to expedite the approval of a ₹25 lakh loan application. The CBI recovered the bribe amount from Singh’s possession in front of witnesses.
On Saturday, the Central Bureau of Investigation (CBI) presented the chief manager of the Union Bank of India’s Juhu Santacruz branch in court. The court has placed him in CBI custody for two days.
Investigation and Charges: Despite the recovery, Singh tried to mislead the CBI team during the investigation. The CBI searched his premises and seized documents for further examination. Singh denied the corruption charges and has not been cooperating with the investigation. The CBI expressed concerns that Singh might destroy evidence or influence witnesses, which led them to request his custody.
The Complaint: The investigation began after the CBI received a complaint from the businessman on Thursday. The businessman reported that Singh had initially called him to the bank last month to discuss his loan application, claiming it couldn’t be approved due to improper documentation. Singh later visited the businessman’s warehouse near Ram Mandir Railway station and called him back to the bank. During their subsequent meeting, Singh demanded a 5% commission of the loan amount to approve the application. After negotiations, the bribe was reduced to 4%.
The businessman then approached the CBI with details of the bribery demand, leading to Singh’s arrest. The case highlights ongoing efforts to curb corruption within financial institutions and ensures that those involved in bribery are held accountable.
