Maharashtra: Twenty-eight borrowers allegedly cheat bank of Rs 83 lakh

Representational image

Twenty-eight borrowers allegedly cheated State Bank of India (SBI) to the tune of more than Rs 83 lakh over a period of four years in Raigad district by availing loans on the basis of fictitious documents, the police said on Wednesday.

All the 28 people fraudulently availed loans from the bank's Shreebag branch in Alibaug town by submitting fictitious papers, said Alibaug police station sub-inspector Om Prakash Kavle.

The fraud occurred between March 2018 and September 2022 during which the public sector lender sanctioned individual loan proposals amounting to Rs 83.19 lakh, he said. Bank authorities came to know about the fraud when an internal inquiry revealed there had been no repayment of these loans, Kavle said. An offence has been registered against the accused at the Alibaug police station.

Also read: Palghar: Man held for cheating people by stealing their ATM cards

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever