Former Bank Manager and 11 Accomplices Sentenced for Rs 3.39 Crore Fraud in Uttarakhand
Synopsis
On March 31, a Special CBI Court in Dehradun sentenced a former rural bank manager to four years in prison for his role in a massive Rs 3.39 crore loan fraud, along with 11 others receiving one-year sentences. This case highlights serious financial misconduct in the banking sector.
Key Takeaways
Four years of rigorous imprisonment for the former bank manager.
11 accomplices received one-year sentences .
Total fraud amount reached Rs 3.39 crore .
Case initiated by a complaint from the General Manager of the bank.
The fraud involved misappropriation of loans without actual purchases.
Dehradun, March 31 (NationPress) A Special CBI Court in Dehradun has sentenced a former rural bank manager to four years of rigorous imprisonment and imposed one-year sentences on 11 other individuals involved in a Rs 3.39 crore loan fraud, according to official reports.
Ram Avtar Singh Dinkar, who was the Branch Manager of Uttarakhand Gramin Bank at the Bazpur Branch in Udham Singh Nagar district, received a four-year prison sentence along with a fine of Rs 50,000, as stated by the CBI.
The Special CBI Court also sentenced the following 11 private individuals to one year in prison each, with a collective fine of Rs 3.3 lakh: Ram Singh, Harjeet Singh, Diwan Singh, Hardutt Singh, Jasvir Singh, Balkar Singh, Pooran Chand, Deedar Singh, Mahesh Kumar, Gurdeep Singh, and Sona Singh.
The Central Bureau of Investigation (CBI) initiated this case on June 19, 2018, following a written complaint from the General Manager of Uttarakhand Gramin Bank's Head Office in Dehradun.
Allegations indicated that between 2014 and 2015, Dinkar conspired with a private tractor dealer, K.G.N. Tractors and Equipment in Doraha, Bazpur, to fraudulently approve and distribute KCC/crop loans and agricultural term loans, violating bank protocols.
It was claimed that Dinkar misappropriated crop loans to serve as margin money for agricultural term loans, which resulted in bank funds being directed to K.G.N. Tractors and Equipment without any actual purchase of agricultural machinery, leading to a loss of Rs 3.39 crore for the bank.
Upon concluding the investigation, the CBI submitted a chargesheet on December 24, 2018, against the defendants.
The Special Court, after reviewing the evidence presented by the CBI, convicted and sentenced the accused accordingly.
Point of View
This case underscores the critical need for accountability within the banking sector to combat fraud and ensure trust among consumers. The judiciary's decisive action reflects a commitment to addressing financial misconduct and maintaining the integrity of financial institutions.
NationPress
3 Jul 2026
Frequently Asked Questions
What was the nature of the fraud?
The fraud involved the fraudulent sanctioning and disbursing of KCC/crop loans and agricultural term loans amounting to Rs 3.39 crore.
How many individuals were sentenced?
A total of 12 individuals were sentenced, including one former bank manager and 11 accomplices.
What penalties were imposed?
The former bank manager received a four-year prison sentence and a fine of Rs 50,000, while the 11 others received one-year sentences and a total fine of Rs 3.3 lakh.
When did the investigation begin?
The CBI registered the case on June 19, 2018.
What were the consequences of the fraud?
The bank suffered a financial loss of Rs 3.39 crore due to the fraudulent activities.
