Venkatagiri SBI Employee Held for Borrowing Loans Against Customers' FDs

Bank Fraud in SBI Venkatagiri branch - Sakshi Post

NELLORE: Sheikh Rabbani, a clerk working with the  State Bank of India's Venkatagiri branch in Nellore district, was arrested by the police on Sunday for fraudulently taking loans on customers fixed deposits. As per reports the clerk had taken a loan of Rs 9.26 lakh from two such accounts.

Rabbani transferred three accounts of his mother, brother, and friend from Rapur SBI branch to the Venkatagiri branch. He then changed the limits of those accounts and made them into corporate accounts. He then borrowed Rs 3.22 lakh from one account and Rs 6.02 lakh from another customer’s account.

Rabbani made a fixed deposit through an app of a customer who came to the bank. Then without the knowledge of the customer, Rabbani took a loan of Rs 1.35 lakh on the fixed deposit. An automated message about the payment of EMI towards the loan was sent to the customer. Shocked to know about this, the customer immediately approached the SBI branch manager and stated that he had not taken any loan. A probe was conducted by the Bank vigilance team. Based on their report the bank manager lodged a complaint with the police on the case arrested the accused on Sunday and produced him in court.

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