After SBI IIT Branch in Kanpur, one more personal loan fraud has been reported in State Bank of India (SBI) ITC Mall branch in Chandauli.
A case of obtaining a personal loan of Rs 20 lakh using forged documents has come to light at the SBI’s ITC Mall branch located in Chandauli district headquarters.
As per details, Vijay Kumar Rai, a resident of Kidwai Nagar, Kanpur, submitted fake documents to the bank. He claimed to be a railway employee, and submitted all the fake documents. The documents seemed to be original but in reality, all the documents were forged.
After the loan amount was credited in the account of the accused, he did not deposit a single installment and disappeared. The loan account turned NPA after 90 days of irregularity. Nearly four years later, fraud was revealed during the internal audit of the loan accounts. The auditor found that the salary slips were forged. On investigation, it was found that the borrower had deliberately deposited the forged documents in the bank. Branch manager Jai Kumar filed an FIR against the accused, Vijay Kumar Rai, at the Sadar police station.
As per reports, there were lapses on the part of bank. It is alleged that the bank verified the Aadhaar and PAN cards. However, the documents related to his job and salary at the railways were not adequately verified. It’s very important for bank officers to verify the documents of personal loan such as salary slips, service records, etc. as personal loan is an unsecured loan. The loan is granted against the salary and is not secured by any property or assets.
So, if a fraud happens, it leads to total loss for bank as bank can’t recover the money from borrower.
Also Read: Rs 14 lakh loan obtained using Fake Salary Slips in SBI Kanpur Branch
