Medipally Police have registered a criminal case against a woman for allegedly taking a ₹10 lakh personal loan from the State Bank of India (SBI) using forged salary slips and other fake documents.
The suspected loan fraud came to light after the borrower stopped repaying the loan and the account later became a Non-Performing Asset (NPA).
Woman Applied for SBI Personal Loan in 2023
The woman has been identified as Pratibha. According to the case details, she applied for a personal loan at SBI’s Parvathapur branch in April 2023.
The loan application was submitted under SBI’s Express Credit Scheme.
In her application, Pratibha allegedly claimed that she was working as a Senior Nursing Officer at ESIC Super Specialty Hospital in Sanathnagar. Click here to check SBI Personal Loan EMI.
Salary Slips and Other Documents Submitted for Loan
To support her personal loan application, the woman reportedly submitted her Aadhaar card, PAN card and salary slips for four months. The documents were submitted as proof of her identity, employment and salary. After checking and processing the loan documents, SBI sanctioned a personal loan of ₹10 lakh. The loan was to be repaid over a period of 72 months.
SBI Xpress Credit is a collateral-free personal loan for salaried individuals maintaining a salary account with the bank. It provides instant financing up to ₹35 Lakhs with interest rates starting around 10.00% p.a. The repayment tenure ranges from 6 months to 6 years, depending on your remaining service period.
| Feature | Details |
|---|---|
| Loan Type | Unsecured / Collateral-free personal loan |
| Loan Amount | ₹25,000 to ₹35,000,000 |
| Interest Rate | Starts from ~10.00% per annum |
| Repayment Tenure | 6 months to 6 years (72 months) |
| Processing Fee | Up to 1.50% (Min: ₹1,000 | Max: ₹15,000) + GST |
| Prepayment Penalty | Nil (if paid from own verifiable sources) |
| Target Audience | Salaried employees with an SBI salary account |
| Eligible Employers | Central/State Gov, Defense, PSUs, Reputed Corporates |
| Minimum Income | Net monthly income of ₹15,000 to ₹25,000 |
| Application Mode | Digital (YONO App) or physical (SBI Branch) |
Loan Account Became NPA in April 2025
The suspected fraud was detected after the borrower failed to repay the loan amount as per the agreed repayment schedule.
The loan account was classified as a Non-Performing Asset in April 2025. After the account became an NPA, the bank started an internal verification of the documents submitted at the time of the loan application.
Bank Allegedly Finds Forged Salary Slips
During the verification process, the bank reportedly found that the salary slips submitted by the borrower were forged.
The bank also found inconsistencies in the PAN card details provided with the loan application. Based on the findings of its verification, SBI classified the loan account as a fraud account.
SBI Reports Loss of Around ₹8.9 Lakh
In its complaint to the police, the bank said it had suffered a financial loss of around ₹8.9 lakh in the case.
The amount included an outstanding principal of ₹7.95 lakh and accrued interest of ₹1.02 lakh. The bank management later approached the police and filed a complaint regarding the suspected loan fraud.
Police Register Cheating and Forgery Case
Following the complaint filed by SBI management, Medipally Police registered a criminal case on charges of cheating and forgery.
Police have started an investigation into the alleged use of forged documents for obtaining the personal loan.
No arrests have been reported in the case so far. Further action is expected based on the findings of the police investigation.
Conclusion
The case highlights the importance of proper verification of employment, salary and identity documents before sanctioning personal loans. The alleged fraud was detected only after the loan account became an NPA and the bank carried out a detailed internal verification.
Bank Employees are requested to verify the loan documents carefully and thoroughly before sanctioning the loan.
