CBI arrests 2 Ratnakar Bank officials for accepting bribe of ₹30 lakh

While one accused is the bank's regional head, Agro division, in Ahmedabad, the other is its recovery head in Pune.

The Central Bureau of Investigation (CBI) said on Friday it had arrested two senior officials of Ratnakar Bank Limited (RBL) for allegedly accepting bribe worth ₹30 lakh. The arrests were made from Ahmedabad and Pune, the agency said, adding that while one is RBL’s regional head, Agro division, in Ahmedabad, the other is its recovery head in Pune.

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In a statement, the CBI noted that the action was taken after a case was registered against the two accused on a complaint filed against them on allegations of demanding ₹1 crore in bribe for issuing a Valuation Certificate. “The complainant, along with 12 of his family members, applied for an agricultural term loan under the Development of Commercial Horticulture through National Horticulture Board’s Post Harvest Management of Horticulture Scheme. Under this, the government gives a total subsidy of 50 per cent of the total project cost, limited to ₹56 lakh per project,” the statement further said.

Giving more details, the CBI also said that the Agri term loans of the complainant and his family became non-performing assets (NPA) due to the non-availability of the subsidy. Therefore, to avail a subsidy, a Value Certificate for mortgaged properties was required, it said.

The federal agency alleged that following negotiations, the bribe was settled at ₹30 lakh. To arrest the accused, raids were carried out in five cities, including Ahmedabad, Delhi and Pune, at the office and residential premises of the duo.

After a ‘trap’ was laid, the accused were caught, and will be produced in a court, the CBI said, adding that further investigation into the case was underway.

(With agency inputs)