Archive · 27 May 2025
Bank Loses Over ₹1 Crore in Mudra Scheme Loan Fraud
Imagine some people pretended to start businesses to get money from the bank, but they never actually started the businesses.
They made up fake paperwork to get loans under a government program.
The bank gave them over a crore of rupees, but the businesses never existed, and they never paid back the loans.
The police are now investigating to find out who did it and what happened.
A fraud was detected in Barabanki under the Mudra Loan scheme, involving ₹1.41 crore.
Fifteen fake companies were created to avail loans in 2020, with no actual businesses established.
Beneficiaries submitted fake documents showing purchases of equipment and industry setups.
The fraud was discovered after the loan accounts turned into Non-Performing Assets (NPAs).
An FIR was registered against the beneficiaries for fraud, forgery, and embezzlement of funds.
- Who
- Beneficiaries, branch manager of UP Gramin Bank, police
- What
- Fraudulent loans under the Pradhan Mantri Mudra Loan scheme
- When
- Loans availed in 2020; fraud discovered recently
- Where
- Suratganj area of Barabanki, Uttar Pradesh
- Why
- Beneficiaries set up fake companies and submitted forged documents to obtain loans.
- Total Loan Amount
- ₹1.41 crore
- Number of Fake Companies
- 15
- Loan Disbursement Year
- 2020
- Location
- Suratganj, Barabanki
- Charges
- Fraud, forgery, embezzlement
- Scheme Involved
- Pradhan Mantri Mudra Loan scheme
