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Rs 30 lakh bribe for agri loan: CBI arrests Ratnakar Bank official in Ahmedabad

According to CBI officials, the accused -- Nimesh Manger, regional head, Agro Division of the bank in Ahmedabad -- was arrested by a CBI team for allegedly accepting a bribe of Rs 30 lakh.

By: Express News Service | Ahmedabad |
Updated: November 19, 2021 7:01:55 pm
According to CBI officials, the accused -- Nimesh Manger, regional head, Agro Division of the bank in Ahmedabad -- was arrested by a CBI team for allegedly accepting a bribe of Rs 30 lakh.

The Central Bureau of Investigation (CBI) arrested a regional head of Ratnakar Bank in Ahmedabad in an alleged Rs 30-lakh bribery case Friday.

According to CBI officials, the accused — Nimesh Manger, regional head, Agro Division of the bank in Ahmedabad — was arrested by a CBI team for allegedly accepting a bribe of Rs 30 lakh. Another official — Saurabh Bhasin, the recovery head of the bank — was arrested in Maharashtra’s Pune in the same case.

“A case was registered on a complaint against the accused officers on the allegations of demanding undue advantage of Rs 1 crore for issuing a valuation certificate,” a CBI statement said. It was alleged that the complainant, along with his 12 family members, applied for an agri term loan under the Development of Commercial Horticulture through Production and Post Harvest Management of Horticulture Scheme of the National Horticulture Board, in which the government gives a 50 percent subsidy of the total project cost limited to Rs 56 lakh for each project. Due to the non-availability of the subsidy, all the agri term loans of the complainant and his family members became non-performing assets (NPA) and for availing the subsidy, a valuation certificate for mortgaged properties was required.

“It was also alleged that the bribe was settled at Rs 30 lakh on negotiation. The CBI laid a trap and caught the regional head in Ahmedabad for demanding and accepting the bribe. Later on, the recovery head in Pune was also caught. Searches were conducted at five locations, including Ahmedabad, Pune, Delhi, the office and residential premises of both the accused,” it further stated.

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