The Central Bureau of Investigation (CBI) has registered two cases on March 25, 2025, against multiple accused, including the former Branch Manager of the State Bank of India, Ramakrishnanagar Branch, Karimganj, Assam, and two middlemen. The accused are being investigated for their alleged involvement in bank fraud, corruption, and bribery.
It is alleged that the Branch Manager, in collusion with middlemen, fraudulently disbursed Xpress Credit Loans to ineligible borrowers between 2023 and 2024 in exchange for bribes. The illicit funds were reportedly collected by the two middlemen and other unidentified individuals from borrowers.
The CBI conducted searches at four locations, including Gaya (Bihar), Hailakandi (Assam), and two locations in Silchar (Assam), leading to the recovery of:
- Gold: 481 grams
- Diamond: 11.11 grams
- Silver: 1092.80 grams (approx.)
The ornaments and jewelry were seized from the residential premises of the accused Branch Manager in Silchar, Assam.
Additionally, investigators recovered:
- Transaction records with middlemen
- Bills/invoices for jewelry purchases
- Documents related to Xpress Credit loans
- Electronic devices (Computer SSD, mobile phone, and tablet)
Ongoing Investigation
The CBI continues its investigation into the case to uncover further details related to the fraud and corruption allegations.
