Fraud case against Bank of Baroda's ex-branch head in UP; CBI raids places in Meerut, Bharuch
June 25, 2025
Over ₹3 crore was credited to the accused’s account, followed by transfers to various other accounts and cash withdrawals.
The Central Bureau of Investigation (CBI) has registered a case, based on source information, against the former branch head of Bank of Baroda and unidentified public servants. Searches were conducted at the accused’s premises in Meerut, Uttar Pradesh, and Bharuch, Gujarat, leading to the recovery of incriminating documents as part of an ongoing investigation.
The complaint alleges that the accused committed gross criminal misconduct involving cheating and misappropriation of funds while serving as the branch head at two different branches in Moradabad. The accused held the position at the Maswasi Town Branch from October 4, 2021, to October 15, 2023, and at the Rahmatganj Branch from October 16, 2023, to February 6, 2024.
According to the CBI, during his tenure, the accused violated bank guidelines concerning the dual custody of branch keys. He allegedly opened several accounts without applications, sanctions, or documentation—many of which later became non-performing assets (NPAs).
It is further alleged that he enhanced the sanctioned limits of advance accounts without any borrower request, appraisal note, sanction letter, or security documents. These enhancements were made in the financial system, utilised, and then reverted to the original limits—actions in breach of the bank’s protocols.
The CBI also claims the accused carried out unauthorised debits from accounts, using instruments that were in the custody of the account holders. The funds were then transferred to accounts held by the accused and his wife. Additionally, several unauthorised bank accounts were allegedly opened without proper documentation, with funds again being routed to the accused and his wife’s accounts.
Over ₹3 crore was credited to the accused’s account, followed by transfers to various other accounts and cash withdrawals. The CBI asserts that these transactions were irregular and exceeded the known sources of income of the individual.
Similarly, credit entries totalling ₹4.91 crore—sourced from various accounts, including advance accounts—were observed in the wife’s account during the same period. Most of these funds were either withdrawn in cash, transferred to other accounts, or moved digitally.
[CNBC TV18]
