Massive Fraud at SBI Branch in Sadiq Faridkot Punjab, Crores of Rupees Withdrawn from Accounts

Faridkot, Punjab – In a shocking incident that has shaken the trust of common people in government banks, a major fraud of ₹4 to ₹5 crore has been uncovered at a State Bank of India (SBI) branch in Sadiq town, Faridkot district. Dozens of account holders, mostly farmers and elderly citizens, have found their life savings wiped out due to the fraudulent activities of a bank employee.

State Bank of India, being India’s largest public sector bank, is often seen as the most trusted bank in the country. However, this recent scam has deeply hurt the faith of the people. A clerk named Amit Dhingra from the Sadiq branch is accused of embezzling crores of rupees and has since gone missing. The police have now issued a lookout notice against him.

Massive Fraud has been reported at @TheOfficialSBI Branch in Sadiq Faridkot Punjab. Crores of Rupees have been Withdrawn from Accounts of over 100 Customers. Bank Clerk is said to be involved in this fraud and is absconding.

Read full news: https://t.co/rgqgBQ4dp6 pic.twitter.com/IsMb1SQ7EG

— Hellobanker (@Hellobanker_in) July 23, 2025

According to preliminary reports, the scam involved manipulating fixed deposits (FDs) and loan limit accounts of over 100 people, most of whom are farmers. Money was withdrawn without the knowledge of account holders. Fake FD receipts were issued, and even the nominee names were changed in several cases.

When the victims visited the bank to check their accounts, many were shocked to find a zero balance. The emotional trauma was so intense that some elderly people fainted on the spot. Furious and heartbroken, people staged a protest outside the bank demanding justice and recovery of their money.

Paramjit Kaur, a customer of the branch, said she and Gurdeep Kaur had joint FDs worth ₹22 lakhs. But when she checked her account, she found that all her FDs were broken and the money was withdrawn. Additionally, ₹2.5 lakhs was also fraudulently withdrawn from her ₹5 lakh credit limit account.

Sandeep Singh stated that he had made four FDs of ₹4 lakhs each, totaling ₹16 lakhs. Now, only ₹50,000 remains across all accounts.

Jaswinder Singh revealed that an amount of ₹18 lakhs, which had been deposited to clear his mother’s loan limit, was also fraudulently siphoned off. In total, he has lost around ₹56 lakhs, including FDs in his wife’s and other family members’ names.

Bank Assures Recovery, Police Investigate

Responding to the crisis, SBI field officer Sushant Arora assured customers that their money will be refunded. “I’ve recently joined this branch. I got to know about the fraud recently, and all complaints are being investigated,” he said.

Navdeep Bhatti, in-charge of Sadiq police station, confirmed that four official complaints have been received so far and investigations are ongoing. “We’re coordinating with bank officials. Once we have complete details, strict action will be taken. The accused will be arrested soon,” he added.

As of now, around 100 account holders are believed to be affected, and more victims are coming forward. The total amount involved is estimated between ₹4 to ₹5 crore. The accused clerk Amit Dhingra is still absconding, and a major manhunt is underway.

This incident has raised serious concerns about internal controls and monitoring systems within even the most trusted banks in India. Customers now await swift justice and the return of their hard-earned savings. More details will be released soon.