SHG Fraud Alleged at Axis Bank Branch in Barabanki Uttar Pradesh

A major case of financial fraud has been allegedly reported at Axis Bank’s main branch in Barabanki. A relationship manager, another bank employee, and a public service center (CSC) operator have allegedly cheated 78 people of around ₹10.18 lakh through fake group loan schemes. The case was registered at the city police station on Tuesday based on a complaint filed by field officer Sachchidanand Shukla.

According to the complaint, Puneet Kumar, a resident of Pachasa village in Sitapur district, was working as an off-roll relationship manager in the bank’s group loan department. Another employee, Utkarsh Aryan, from Bahraich district, also worked at the same branch. Puneet is accused of creating fake group loan applications using the names of 60 villagers. With the help of Sachin, a CSC operator, he opened bank accounts for all these villagers at the Indian Overseas Bank’s Deva branch and kept their passbooks and ATM cards with himself.

Afterward, Puneet called the beneficiaries to the Axis Bank branch, completed biometric verification, and transferred the loan amount—around ₹9.73 lakh—to their Indian Overseas Bank accounts. Two or three days later, he and Sachin told the villagers that the loans had been cancelled and they would have to apply again.

Using this excuse, they called everyone to the CSC center and transferred the entire amount from the beneficiaries’ accounts to their own digital wallets. Screenshots from the CSC operator’s wallet showing transfers to Puneet have also been found during the investigation.

City Police Inspector Sudhir Kumar Singh confirmed that a case of fraud has been registered against the three accused — Puneet Kumar, Utkarsh Aryan, and Sachin. The bank has also started an internal inquiry into the matter. Police sources said that both Puneet and Utkarsh stopped coming to work in July 2025 — Puneet from July 9 and Utkarsh from July 1 — and their mobile phones have been switched off since then.