Jammu, June 28: The Economic Offences Wing (EOW) of Crime Branch Jammu has registered a criminal case in connection with an alleged loan fraud involving J&K Grameen Bank after receiving complaints highlighting financial irregularities at the bank’s Kaluchak and Surankote branches.
According to officials, the case has been registered under Sections 420 and 120-B of the IPC following complaints forwarded through Crime Headquarters, Jammu and Kashmir, by the Director, Anti-Corruption Bureau (ACB). The complaints were originally filed by the Chief of Audits, Inspection and Vigilance of J&K Grameen Bank.
An internal inquiry into the functioning of the Kaluchak branch reportedly revealed that 58 loan accounts under 15 Joint Liability Groups (JLGs), along with two Cash Credit Limit accounts, were allegedly opened and operated without the knowledge or consent of the concerned beneficiaries. The suspected fraud in these accounts is estimated to be around ₹42 lakh.
The inquiry further indicated that nearly ₹12 lakh was allegedly transferred to bank accounts reportedly linked to the late Senior Manager, Bhagwan Singh Saini, while the remaining funds were allegedly withdrawn through ATM transactions. Investigators also found that a daily wage employee engaged at the branch had reportedly admitted to using ₹2 lakh from one JLG loan account for personal purposes, after which recoveries were initiated in two accounts.
In a separate complaint concerning the Surankote branch, the Branch Head, Rohit Kumar, along with other suspected individuals, has been accused of carrying out unauthorized financial transactions amounting to approximately ₹7.37 lakh. The complaint also alleges that loans worth nearly ₹19 lakh were fraudulently sanctioned and withdrawn through five fake loan accounts allegedly created without the knowledge or consent of the borrowers. These accounts were later shown as settled or closed, reportedly to reconcile the branch’s cash position.
Following a preliminary verification, the Economic Offences Wing found prima facie evidence suggesting the commission of cognizable offences. Consequently, Police Station Crime Branch (EOW), Jammu, has registered an FIR under Sections 420 and 120-B of the IPC against Rohit Kumar and other suspected persons. A detailed investigation has now been initiated to ascertain the full extent of the alleged fraud and identify everyone involved.
Senior Superintendent of Police (SSP), Crime Branch (EOW) Jammu, Faisal Qureshi, has appealed to the public to report similar cases of financial fraud so that appropriate legal action can be taken against those responsible.
