Customer says Bank returned Fake Gold Chain on closure of Loan, Complaint against Axis Bank Shivpuri

Shivpuri, Madhya Pradesh: Krishna Gopal Solanki, a resident of Amrit Bihar Colony, has accused the Shivpuri branch of Axis Bank of replacing his original gold jewellery with a fake item during a gold loan process. On Sunday, he addressed the media in a press conference, shared the full details of the incident, and demanded justice.

According to Solanki, he had taken a gold loan in November 2023, which was renewed on 7 November 2024. At that time, his jewellery was evaluated by bank officer Animesh Jain and authorized valuer Lokesh Soni. Solanki said that all jewellery was certified to be 22-carat gold.

Solanki explained that on 24 June 2025, he cleared the entire loan amount and collected his jewellery back from the bank. Later, when he went to pledge the same jewellery at Capri Gold Loan Company, a chain weighing 31.65 grams was declared fake. The chain looked exactly like the original, but upon inspection, it was found to be not genuine gold.

Solanki claimed that when he approached Axis Bank to report the issue, bank officer Animesh Jain refused to take responsibility. Solanki also alleged that serious irregularities exist in the gold loan process at the branch. He added that valuer Lokesh Soni’s services have now been terminated by the bank, indicating possible internal issues.

Following the incident, Krishna Gopal Solanki filed complaints with both the Axis Bank management and the Kotwali Police Station in Shivpuri. He has demanded a proper investigation and strict action against those responsible.

Gold Loan Officer Animesh Jain stated that the entire process is monitored by CCTV cameras. He confirmed that Solanki collected his jewellery on 24th June and complained about the fake chain on 26th June. Jain said that customers have the option to inspect and verify their gold while collecting it. He added that while the allegations seem unlikely, the bank management has started an investigation, and any facts discovered will be shared with the customer.

Moreover, when a gold loan is processed in banks, the entire procedure is carried out in front of the customer and is also recorded on CCTV cameras for transparency and security. The gold is carefully packed in the presence of the customer and then stored safely inside a secure vault. At the time of loan closure, when the customer comes back to the bank, the same sealed packet is returned to them. The vault where the gold is kept is under the strict custody of authorized bank officers.

Usually, the vault can only be opened by two officers who hold separate keys. This means that no single person can access or open the vault alone, making unauthorized access or tampering almost impossible. Therefore, gold can only be replaced if there is a deliberate and fraudulent intention.

More details will be released soon.