Ludhiana bank manager booked for 3.90 crore fraud by ‘misusing Centre’s PM Mudra Yojana’
Indian Express·2d ago·Neutral
What Happened
Ludhiana Rural Police registered a case against bank manager Pankaj for allegedly defrauding Rs 3.90 crore through PM Mudra Yojana misuse. Pankaj, posted at Indian Overseas Bank's Baddowal branch, allegedly used colleagues' login credentials to generate twenty-two fake loans without proper documentation. The fraudulent amount was transferred to his personal account. Police initiated investigation; arrest pending.
Key Entities
Pankaj (bank manager)Ludhiana Rural PoliceIndian Overseas BankPM Mudra YojanaUma Kanta SamalRs 3.90 croreMullanpur Dakha police station