PNB Officers Booked for Rs.95 Lakh KCC Loan Scam in Morena, Madhya Pradesh
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The State Economic Offences Wing (EOW) has registered an FIR (First Information Report) against Ajay Kumar Bhatt, branch manager of Punjab National Bank (PNB), and Kunal Nag, the bank’s agriculture officer, in Morena district of Madhya Pradesh. Both officers are accused of being involved in a ₹95.31 lakh scam by issuing loans using fake and forged documents.
According to the EOW investigation, the fraud took place between January 6, 2007, and March 21, 2011. During this period, Ajay Kumar Bhatt was posted at the Baghchini branch of PNB in Morena. Along with Kunal Nag and possibly other unknown individuals, he is accused of misusing the Kisan Credit Card (KCC) loan system to embezzle a large sum of money.
The investigation found that the accused created fake KCC loan accounts using false documents in the names of 50 beneficiaries. A total of ₹95.31 lakh was withdrawn through these fraudulent accounts.
Shocking Findings: 45 Beneficiaries Don’t Exist
When officials looked into the 50 KCC accounts, they discovered that 45 of the beneficiaries were completely fake — they do not even exist. Surprisingly, even the remaining 5 people, who are real individuals, denied ever applying for or receiving any loan under the KCC scheme. Based on this evidence, the EOW found clear proof of fraud, leading to the registration of the case against the accused.
Legal Action and Charges
The case has been filed under multiple serious sections of the Indian Penal Code (IPC), including:
- Section 420 – Cheating and dishonesty
- Section 409 – Criminal breach of trust
- Section 467 & 468 – Forgery of valuable security and documents
- Section 120B – Criminal conspiracy
In addition, charges under the Prevention of Corruption Act, 1988 (Amended in 2018) have also been added:
- Section 13(1)(A) read with Section 13(2) – Criminal misconduct by public servants
What Happens Next?
The case is currently under investigation. Once the process is complete, the accused bank officials are likely to be arrested and prosecuted as per law. The case has created concern among people, especially farmers who rely on genuine KCC loans.
