Gujarat : Cattle Farmers Accused of Rs 64 Lakh Loan Fraud at HDFC Bank
HDFC Bank has reiterated its commitment to maintaining stringent verification processes and has assured that measures will be taken to prevent such occurrences in the future
![HDFC Bank Launches GIGA A Complete Financial Suite of Products for Gig Workers](https://theblunttimes.in/wp-content/uploads/2023/05/hdfcbankimage1.jpg)
Advertisement
RAJKOT,GUJARAT : About nine cattle farmers from Dhak village in Upleta have been accused of obtaining loans totaling over Rs 64 lakh from HDFC Bank using falsified bills and documents. The Regional Manager of HDFC Bank, Ketanbhai Jagdishchandra Dave, has filed a police complaint against the accused under various sections, including fraud.
According to the complaint, the farmers submitted applications and supporting documents to secure loans intended for the purchase of cattle and other cattle-related activities. However, it has now been revealed that these documents were fake. The accused individuals have failed to repay the loan amount of Rs 64,66,499, leading to legal action from the bank.
The individuals named in the police complaint are identified as Mahaveer Singh Gogubha Wala,Rameshbhai Kanbhai Karotra,Bhikhabhai Punjabhai Bharai,Bhikhubhai Mangalbhai Bhikhubhai Mala,Madhuben Harsurbhai Makad,Bhikhabhai Chanabhai Karotra and Ranjanben Bhanabhai Dangar
The fraudulent actions came to light after the accused failed to comply with the loan repayment conditions. In response, HDFC Bank’s Regional Manager took the matter to the authorities, seeking legal recourse.
PSI RV Bhimani stated, “A complaint has been lodged by the bank against the accused individuals for financial fraud. Legal action has been initiated in this regard.”
This incident highlights the challenges banks face in verifying the authenticity of documents submitted for loan applications. The use of falsified documents not only undermines the integrity of the financial system but also impacts the availability of resources for genuine borrowers in need.
HDFC Bank has reiterated its commitment to maintaining stringent verification processes and has assured that measures will be taken to prevent such occurrences in the future. The bank is also working closely with the police to ensure that the perpetrators are brought to justice.
Advertisement