The Central Bureau of Investigation (CBI) registered two cases on March 25, 2025, against the accused, including the former Branch Manager of the State Bank of India, Ramakrishnanagar Branch, Karimganj, Assam (accused in both cases) and two private individuals (one in each case), on allegations of bank fraud and corruption/bribery.
It has been alleged that the accused Branch Manager, in conspiracy with certain middlemen, disbursed Xpress Credit Loans to various ineligible borrowers between 2023 and 2024 in exchange for undue advantages or bribes. These bribes were allegedly collected by the two accused middlemen and other unidentified individuals from the borrowers.
CBI conducted searches at four locations, including Gaya (Bihar), Hailakandi (Assam), and two locations in Silchar (Assam). These searches led to the recovery of substantial quantities of ornaments and jewelry, including:
Gold: 481 grams
Diamond: 11.11 grams
Silver: 1,092.80 grams (approximately)
These items were seized from the residential premises of the accused Branch Manager in Silchar, Assam.
Additionally, various incriminating documents were recovered, including:
Transaction details with middlemen
Bills/invoices for the purchase of ornaments
Documents related to Xpress Credit loans
Electronic devices, including an SSD from a computer, a mobile phone, and a tablet
The investigation is ongoing.
