Financial Fraud In Balasore Bank: Police Start Probe Against Officials


BALASORE: The Balasore Sadar police have started an investigation into a financial fraud case involving a former branch manager and a cashier of a Gramya Bank in the district.

An FIR has been filed by incumbent branch manager of Rasalpur  Prabhakar Sahu against four persons with Sadar police alleging a financial embezzlement in 2010.

Prabhakar Sahu alleged that Bhabendra Biswal and Basanta Panda, the then manager of the branch and cashier respectively, have committed the fraud in connivance with two civilian touts.

The financial embezzlements of  Rasalpur branch of the bank came to the fore while some of the account holders of the branch surprisingly found loan recovery notices from the bank stating their outstanding amounts which they availed in 2010.

The debt recovery notices were sent by the incumbent branch manager  Prabhakar Sahu. The persons who had received notices neither applied nor availed the loans in the said period.

The bank during its internal probe found that the racket was active, and  the amount was fraudulently grabbed by them against poor and illiterate account holders name.

The documents such as voter identity card, MGNREGA card and other testimonials were forged, and the loan was given without their knowledge.

Sources said branch manager  Biswal and the cashier Panda are still in service and serving in other branches of the bank in the district while two civilians involved in the scam are absconding.