Archive · 28 Jul 2025
SBI Hit by ₹5.5 Crore Loan Scam: Details and Lessons Learned
Imagine some people in Dahod, India, tried to trick a bank called SBI to get loans.
They made fake documents to show they earned more money than they did.
In total, they got away with ₹5.5 crore.
Some people faked their salary slips to get more money, while others completely lied about their jobs.
Some bank managers helped them out.
But the bank noticed something was wrong during a check, and now the police are involved.
The article tells you to always use real documents when applying for a loan and to be careful about borrowing too much money.
SBI was hit by a ₹5.5 crore personal loan scam in Dahod, Gujarat.
29 loan applicants used forged documents to get loans approved at two SBI branches.
17 applicants inflated their salaries, and 10 used entirely false documents.
Two bank managers and some middlemen were involved in the fraud.
An internal audit revealed the loans were given without proper documentation.
- Who
- 29 loan applicants, two bank managers, and some middlemen were involved.
- What
- A ₹5.5 crore personal loan scam involving forged documents at SBI branches.
- When
- The timeframe is not explicitly stated, but the fraud was uncovered during an internal audit.
- Where
- Dahod, Gujarat, India, at two SBI branches.
- Why
- Applicants sought larger loans by providing false information.
Applicants Perspective
Bank's Perspective
Fraudulent activity
Applicants Perspective
Some applicants used fraudulent documents to obtain larger personal loans from SBI.
Bank's Perspective
SBI was defrauded due to applicant's actions.
- Total fraud amount
- ₹5.5 crore
- Number of applicants involved
- 29
- Number of SBI branches involved
- 2
- Location
- Dahod, Gujarat, India
- Loan type
- Personal