CBI registers case in alleged multi-crore loan scam at J&K Grameen Bank

Srinagar: Anti-corruption branch of the CBI Srinagar has registered a case in the alleged embezzlement of public money at J&K Grameen Bank, Mirgund branch.

Quoting an official, news agency KNO reported that Ishtiyaq Ahmad Parray, then the branch head of the bank had sanctioned number of car loans worth crores in favour of non-existing borrowers on the basis of fake vehicle registration documents in league with other private parties.

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The official said the loans were sanctioned between 2014 to 2018.

While confirming the registration o f FIR, an official said that subsequent searches were made by CBI sleuths and incriminating documents, numerous bank account details, and other documents were seized.