NEW DELHI/MORADABAD: The Central Bureau of Investigation (CBI) has filed a large-scale corruption and fraud case against a former branch head of Bank of Baroda on charges of extensive cheating, misappropriation of funds and serious abuse of banking protocols. Satish Kumar Anand, who was arrested by the CBI on Wednesday from the Rohini locality of Delhi, was earlier declared a proclaimed offender in the case.
The crime was reported by the CBI on June 24, 2025, based on source material, against Satish Kumar Anand and unidentified public servants and private individuals. Anand was branch head at Maswasi Town branch between October 4, 2021 and October 15, 2023, and at Rahmatganj Branch from October 16, 2023 to February 6, 2024 — both in the Moradabad area of Uttar Pradesh, the CBI said.
Anand is accused during his term of having caused gross criminal wrongdoing by breaking several banking norms. Some of the major charges include disobeying the bank’s two-custody requirement for branch keys, opening accounts without proper documents, and increasing credit limits in the Finacle banking platform without necessary approvals or the request of borrowers.
The probe also uncovered that Anand carried out unauthorised debits on customers’ accounts, even when debit instruments were in their possession. Proceeds of these unauthorised transactions were purportedly siphoned to Anand and his wife’s accounts. The accused also created a number of fake bank accounts and used them for money transfers. The CBI discovered that a whopping Rs 305.59 lakh was credited to Anand’s own account, of which Rs 305.08 lakh was further transferred or withdrawn in cash. In the account of his wife, suspicious credit entries of Rs 491.62 lakh were also found to have been made from different sources.