Female Branch Manager in PNB suspended for Loan Fraud in Uttar Pradesh

Muzaffarnagar, Uttar Pradesh: A serious case of fraud has been uncovered at the Punjab National Bank (PNB) branch located in the Shernagar area. A woman bank manager, posted at the branch, has been accused of cheating the bank by misusing her position and getting a home loan of Rs 40 lakh approved using fake documents.

As soon as the matter came to light, the bank management launched an internal investigation. After confirming that fraud had indeed taken place, the accused bank officer was immediately suspended from her job. The bank has also filed an FIR (First Information Report) at the police station, accusing her of fraud and breach of trust. Police have now started legal proceedings against her.

Complaint Filed by PNB Bank Manager

A case was registered by Shivansh Verma, son of Shivkumar Verma, who is currently manager at the same PNB Shernagar branch. He filed the complaint at New Mandi Kotwali police station regarding the financial fraud committed by the former manager.

According to his complaint, Amrita Singh, wife of Lokendra Singh and a resident of Rampur village in Kanpur Nagar district, worked as the Branch Manager at PNB Shernagar from 17 July 2021 to 2 May 2023. She currently lives with her family in Gokul City, Muzaffarnagar.

How the Fraud Happened

During her time as branch manager, Amrita Singh applied for a home loan from her own branch to buy a plot in Dream City, a housing colony being developed in Muzaffarnagar. She claimed the loan was to buy land and build a house on it. The bank approved a home loan of Rs 40 lakh, which was transferred to her personal account.

Amrita Singh did buy the plot of land — but even after so much time, no construction work has been started on the site. It was also found that she did not submit important documents required for mortgaging the property, which is mandatory for getting a home loan. Using her high position in the bank, she managed to get the full amount of Rs 40 lakh without completing the necessary formalities.

Even after several reminders from the bank, Amrita Singh neither started construction nor complied with the bank’s loan conditions. After an internal inquiry confirmed that fraud had occurred, the bank suspended her. Following this, a formal complaint was lodged by the bank with the police.

Police starts investigation

According to SHO Dinesh Baghel, based on the orders of the ACJM Court No. 1, a case has been registered against Amrita Singh under Sections 420 (cheating) and 406 (criminal breach of trust) of the Indian Penal Code (IPC). The police have now started legal action against her. More details will be released soon.