Assam CID arrests Guwahati man in ₹40 lakh Canara Bank loan fraud
Synopsis
A Guwahati man allegedly orchestrated a ₹40 lakh vehicle loan fraud across multiple Canara Bank branches using forged documents — the scam only unravelled when all five loan accounts turned into NPAs. Assam CID has made the first arrest, but investigators say the full network is still being mapped.
Key Takeaways
Assam CID arrested Ramen Saikia alias Jaan Saikia of Birubari, Guwahati on 7 October 2026 .
The alleged fraud involved ₹40 lakh in vehicle loans disbursed across Canara Bank's Ulubari and Amingaon branches .
Five loans of ₹8 lakh each were sanctioned between February and June 2023 in the names of multiple individuals.
Forged vehicle quotations, RC copies , and insurance papers were allegedly used to secure the loans.
The fraud came to light after all loan accounts became Non-Performing Assets (NPAs) and triggered an internal bank audit.
The CID investigation is ongoing; the alleged roles of other associates are under examination.
The Criminal Investigation Department (CID) of Assam Police has arrested a Guwahati-based man in connection with an alleged ₹40 lakh vehicle loan fraud spanning multiple branches of Canara Bank, officials confirmed on Wednesday, 7 October 2026. The accused was picked up from his residence following a bank-initiated complaint that exposed a trail of forged documents and non-performing loan accounts.
Who Was Arrested
The accused, identified as Ramen Saikia alias Jaan Saikia, son of Dhaneswar Saikia, is a resident of Birubari, Guwahati. He was arrested from his home after the CID launched a formal investigation based on a complaint filed by the Senior Manager of Canara Bank's Ulubari branch.
How the Alleged Fraud Was Carried Out
According to the bank's complaint, four vehicle loans of ₹8 lakh each were sanctioned and disbursed between February and June 2023 from the Ulubari branch. The loans were reportedly processed in the names of Juri Mahanta Saikia, Madhuparna Choudhary, Leline Rabha, and Samudra Jyoti Kashyap.
Separately, the bank's Amingaon branch sanctioned an additional ₹8 lakh vehicle loan in the name of Jaan Saikia under the MSME Vahan Scheme, reportedly for the purchase of a commercial vehicle. Combined, the allegedly fraudulent disbursements totalled ₹40 lakh across different branches in the greater Guwahati area.
The loan applications were allegedly supported by vehicle quotations purportedly issued by M/S Ramnarayan Shiprasad, an authorised car dealer based in Jorhat. Investigators allege that Saikia and his associates submitted forged vehicle quotations, Registration Certificate (RC) copies, insurance papers, and other supporting documents to secure the loans.
How the Fraud Came to Light
The suspected fraud surfaced after all the loan accounts turned into Non-Performing Assets (NPAs). An internal review by the bank's Administrative Office allegedly detected discrepancies in the submitted documents, prompting the Senior Manager of the Ulubari branch to file a formal complaint with the CID. This is a pattern seen in several bank fraud cases nationally — forged document sets enabling initial loan disbursal, with NPAs eventually triggering the audit trail.
Investigation Status
The CID has confirmed that the investigation remains underway. Authorities are examining the alleged roles of other individuals connected to the accused and are working to establish the full extent of the suspected fraud network. The possible involvement of additional associates — including those who may have provided or fabricated supporting documents — is reportedly under scrutiny.
The case highlights ongoing vulnerabilities in vehicle loan verification processes at public sector bank branches, particularly in tier-2 and peripheral urban zones where document authentication may be less rigorous.
Point of View
Where processing timelines may compress due diligence. The fact that five separate accounts across two branches all turned NPA before the fraud was detected points to a systemic lag in cross-branch reconciliation. With the CID still mapping the broader network, this arrest is likely the first, not the last. The bigger question is whether M/S Ramnarayan Shiprasad in Jorhat — whose quotations were allegedly forged — had any witting role, or was itself a victim of identity misuse.
NationPress
7 Oct 2026
Frequently Asked Questions
Who was arrested in the Assam Canara Bank loan fraud case?
The arrested person is Ramen Saikia alias Jaan Saikia , a resident of Birubari, Guwahati, and son of Dhaneswar Saikia. He was arrested by the Assam CID from his residence in connection with an alleged ₹40 lakh vehicle loan fraud involving multiple Canara Bank branches.
How was the ₹40 lakh Canara Bank loan fraud allegedly carried out?
According to the bank's complaint, five vehicle loans of ₹8 lakh each were sanctioned between February and June 2023 using forged vehicle quotations, RC copies, and insurance documents. The loans were processed in the names of multiple individuals across the Ulubari and Amingaon branches of Canara Bank in Guwahati.
How did Canara Bank discover the alleged fraud?
The fraud came to light after all the loan accounts turned into Non-Performing Assets (NPAs). An internal review by the bank's Administrative Office detected document discrepancies, leading the Ulubari branch's Senior Manager to file a complaint with the Assam CID.
What is the current status of the investigation?
The Assam CID investigation is ongoing. Authorities are examining the alleged roles of other individuals linked to the accused and are working to determine the full extent of the suspected fraud network. Further arrests have not been ruled out.
What is the MSME Vahan Scheme mentioned in the case?
The MSME Vahan Scheme is a vehicle loan facility offered by public sector banks to small and medium enterprise operators for purchasing commercial vehicles. One of the five alleged fraudulent loans in this case — for ₹8 lakh — was reportedly sanctioned under this scheme at Canara Bank's Amingaon branch in the name of Jaan Saikia.
