Ex-Bank manager and three others arrested by CBI for loan fraud

The Central Bureau of Investigation (CBI) has lodged an FIR against a former bank manager and three others for allegedly committing a loan fraud of Rs 17.91 crore. The accused individuals are facing charges related to their roles in the fraud.

According to a senior CBI official, M.P. Nagar, who was employed as the Relationship Manager of Medium Enterprises (RMME) at the State Bank of Bikaner & Jaipur (SBBJ), is alleged to have been involved in the loan processing for Medium Enterprises in various regions of Mumbai, including Thane, Belapur, Panvel, and Ghatkopar.

The fraudulent activities are said to have taken place between 2013 and 2014. The CBI is conducting a thorough investigation into the matter to gather evidence and hold the accused accountable for their actions. The filing of the FIR marks a significant step in the legal proceedings against the accused individuals.