Hyderabad sources reported that the Central Bureau of Investigation (CBI) has booked 41 persons including three officials of the Industrial Development Bank of India (IDBI) for cheating the bank to the tune of Rs 539 crore in Andhra Pradesh and Telangana. Meanwhile the federal agency registered two separate cases relating to large-scale frauds in IDBI branches in the two states in sanctioning pisciculture loans.
Previously in the first case, 31 persons including IDBI's General Manager Battu Rama Rao and former Chief General Manager R. Damodaran, 22 aggregators and bank panel Valuers were booked for cheating the bank to the tune of Rs 445.32 crores. Rama Rao has also been removed from the service. Presently the central agency booked the accused on charges of criminal conspiracy, cheating, forgery, criminal misconduct and misappropriation.
According to sources the action came after a complaint by IDBI official in
Hyderabad that about 220 borrowers, consisting of 22 aggregates, conspired
with IDBI bank officials at its Basheerbagh (Hyderabad) and Siripuram
(Visakhapatnam) branches, along with bank panel valuers, and availed Kisan
Credit Card (KCC) and pisciculture loans through 220 loan accounts from
different branches of the bank aggregating Rs 198.28 crore and the outstanding
amount as on September 2017 stood at Rs 445.32.
