CBI conducts raid in connection with MRB scam

Shillong: The CBI has conducted raids at various places in the city in connection with a Rs 14.34 crore scam in the Meghalaya Rural Bank (MRB), officials said on Wednesday.

The raids were conducted at several places in the city and in the outskirts based on a complaint filed by the general manager of the bank on March 27 last, an official told PTI.

In his complaint to the Central Bureau of Investigation (CBI), the MRB general manager cited instances of fraudulent loan disbursements to nearly 150 clients by the then bank manager at Iewduh branch here, the official said.

The raids were conducted on Tuesday at the residences of the accused including at the residence of the then branch manager, he said.

The bank Chief Vigilance Officer revealed that there were serious acts of commission and omission on the part of the then branch manager in collusion with private borrowers while sanctioning and disbursement of cash credits, housing loans, general credit card, small business term loan, small business cash credit and small business finance cash credits.

The CVO also furnished the list of 114 borrowers accounts amounting to over Rs 14.33 crore which were later declared Non Performing Assets (NPA) causing wrongful loss to the MRB, the official said.