E-Paper
Mohali: Banker takes ₹93L loan against 80-yr-old woman’s FD, booked
Complainant alleged that the accused, Nitish Kumar Yadav, then bank manager at Indian Bank, Phase 11, Mohali, took care of all her work and gradually earned her trust; in September 2024, during a visit to the district office, he had her sign a blank sheet of paper, claiming it was for routine bank formalities
Police have booked a manager of a nationalised bank for fraudulently securing a loan of ₹93 lakh against a fixed deposit belonging to an 80-year-old retired school principal.
The accused, Nitish Kumar Yadav, then bank manager at Indian Bank, Phase 11, allegedly exploited trust of the senior citizen to orchestrate the scam, said police.
The victim, Manjit Kaur Hira, a former principal of a private school, filed a complaint at the Phase 11 police station, leading to registration of a fraud case against Yadav and his accomplice, Jagtar Singh Bath, a real estate agent.
Harsimran Singh Bal, DSP (City 2), said “A case has been registered under relevant sections of the Bharatiya Nyaya Sanhita (BNS) — Section 316(5) (criminal breach of trust), 318(4) (cheating by dishonestly inducing delivery of property), and 61(2) (criminal conspiracy). Further investigation is underway in the case.”
In her complaint, Manjit Kaur said the fixed deposit of ₹1 crore belonged to her late husband, Dilbhag Singh, and she became the sole beneficiary of the account in 2022. Due to her advanced age and health issues, she had entrusted her banking affairs to Yadav.
“He took care of all my work and gradually earned my complete trust,” she stated. “In September 2024, during a visit to the district office, he had me sign a blank sheet of paper, claiming it was for routine bank formalities. I had no reason to question him.”
However, during a routine bank visit six months later, she came to know a loan of ₹93 lakh had been taken against her FD. Upon enquiry, the new branch manager informed her that the loan had been taken in the name of Jagtar Singh Bath — someone she and her family were entirely unaware of.
On discovery, she confronted Yadav, who initially promised to clarify everything. “He came to my house along with Jagtar Singh and his family, apologised and admitted to the wrongdoing,” the elderly woman narrated.
