Mudra Loan Fraud Exposed at Aryavart Bank in Lakhimpur; Police Register Case

A major fraud related to a Mudra loan has come to light at Aryavart Bank in Lakhimpur, where the branch manager and other employees are accused of financial misconduct. The Sadar Kotwali police have registered a case against the former branch manager, field manager, and two other individuals for their alleged involvement in the scam.

Victim’s Complaint Leads to Investigation

The fraud case revolves around Seema Devi, a resident of Mohalla Kamalapuri, who had taken a ₹5 lakh Mudra loan to set up a hardware and sanitary shop. However, it is alleged that instead of the loan being used for her business, the bank officials misused the funds.

The main accused in the case include:

• Amarjeet (Former Branch Manager)
• Shobhit Kumar (Field Manager)
• Sudhir Bajpai (Broker)

How the Fraud Was Committed?

According to reports, the accused transferred ₹2.85 lakh from Seema Devi’s account to Balraj Traders on November 23, 2022, by forging her signature. Following this, a fake record was created, showing a purchase of goods worth ₹3 lakh using fraudulent quotations. Additionally, the current branch manager is also accused of breaking a Fixed Deposit (FDR) worth ₹1.25 lakh using another forged signature.

Legal Action and Investigation

As per City Kotwal Amber Singh, the court directed the police to register a case under multiple sections, including fraud. The police are now gathering evidence and conducting an investigation to uncover further details.

This incident has raised concerns about fraudulent activities in bank loans, especially under government-backed schemes like the Mudra loan program, which aims to support small businesses and entrepreneurs. Authorities are expected to take strict action against those involved to ensure accountability