CBI Launches Investigation Into Alleged Swindling Of Funds From Over 20,000 Bank Customers

The Central Bureau of Investigation (CBI) has filed an FIR against a small savings bank in West Bengal for allegedly swindling investments worth crores of rupees from more than 20,000 customers. The case was transferred to the CBI by the Calcutta High Court, which imposed a fine of ₹5 lakh on the state Criminal Investigation Department (CID) for violating its order.

The allegations include the bank employing agents to collect money from people with promises of returning it as needed, issuing a large number of loans without proper norms, causing financial losses to depositors, and potentially operating without proper licenses or permissions.

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The court criticized the CID for filing a “recalling application,” deeming it frivolous and suggesting it may be hiding something. The transferred investigation involves a significant amount of money deposited by customers, which has allegedly been given as loans to unknown borrowers. The CBI and the Enforcement Directorate (ED) were directed to start their investigation within three days.

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This case highlights financial irregularities and the need for a thorough investigation to uncover the truth behind the alleged swindling of funds by the savings bank.