The crime investigation (CID) from Telangana arrested former business agent IDBI Bank for alleged frauds using counterfeit documents and fraudulent payouts of 2.86 crore loans.
The accused, Hittipogu Suresh, was taken into custody from Bhadradri in the district of Kothagudem. Naplagopula Ramesh, a former branch of Sathupally in Khammam
According to a complaint filed by PH Hashim, Deputy CEO and Regional Head of IDBI Bank, accused for a sanction of 2.61 Crore in loans as part of the Kisan Credit Card (KCC) scheme (KCC) to 279 debtors and another 25 GBP Lakh per 26 individuals. The transaction took place from March 2015 to September 2016.
The fraud came to light during the internal audit for the 2018-19 financial year, which revealed discrepancies in the loan documentation and the suspicious financial behavior between Suresh and Ramesh. Subsequent verification of income authorities confirmed that many of the Pattadar guides submitted with applications for loans were created and did not correspond to official land records.
Suresh and his collaborators helped debtors to obtain loans by submitting false income documents after circumventing compulsory verification. Banking procedures were released by branch officials, the official said.
Published – 8 May 2025 9:26
