Major Action in Bilaspur as Two Charged in ₹5 Crore Bank Loan Scam

Bilaspur, October 31 (Daily Kiran) : The Economic Offences Wing and Anti-Corruption Bureau (EOW-ACB) have taken significant action in Bilaspur regarding a bank loan scam exceeding ₹5 crore. This case involves the Bank of Baroda’s Rajkishore Nagar branch. Following a thorough investigation, charges have been filed against former branch manager Rahul Kumar Sinha and Vishwajit Bhattacharya in a special court under the Prevention of Corruption Act.

According to EOW-ACB officials, the accused allegedly secured various loan facilities, including cash credit, overdrafts, bank guarantees, and term loans, using the names of 11 fake firms. The total financial loss to the bank is reported to be ₹5,04,15,000.

The investigation revealed that Vishwajit Bhattacharya operated through a microfinance office in Jarabhatha, assisting individuals in obtaining loans. During this process, he reportedly collected personal documents such as Aadhaar cards, PAN cards, KYC information, and property-related papers. Allegations suggest these documents were misused to create fictitious firms without the knowledge of the individuals involved.

Rahul Kumar Sinha, the then senior branch manager, is accused of overlooking bank protocols by approving loans for these 11 firms and preparing fraudulent inspection reports. The inquiry found that three of the firms had fake shop and establishment registration certificates. Bank inspections revealed no actual business operations for any of the firms.

The investigation agency noted that the loan amounts were not utilized for business purposes but were instead transferred and withdrawn through various accounts, ultimately benefiting Vishwajit Bhattacharya. All 11 loan accounts had turned non-performing assets (NPA) by 2019.

On October 30, 2026, the EOW-ACB presented charges in special court number 84/2026 against both individuals, citing fraud, forgery, criminal conspiracy, and violations of the Prevention of Corruption Act.