Hyderabad: SBI manager arrested

Hyderabad: The Detective Department (DD) of Hyderabad police on Tuesday arrested a bank manager, J Deepak of SBI, Red Hills branch for allegedly sanctioning loans in tune of Rs 1.75 crore to ineligible people. According to DD officials, they received a complaint from the bank officials that the said bank manager has been committing fraud by sanctioning loans to ineligible people.

Based on the complaint, the DD started investigation and found that, Deepak had opened 130 OD/Xpress Credit accounts and sanctioned loans to people who were unfit for repaying the loan amount. The intentions of bank manager were clear that he colluded with the people whom he sanctioned loans and availed benefits leading to a loss of Rs 1.75 crore to the bank. Henceforth, he was arrested and the matter is being investigated, said the officials of DD