The Central Bureau of Investigation (CBI) has initiated a case involving 19 individuals regarding a loan fraud under the Prime Minister’s Employment Generation Programme (PMEGP) in Bandipora district, Jammu and Kashmir. The case includes private individuals, J&K Bank officials, and public servants allegedly involved in irregularities related to PMEGP loans.
PMEGP, a scheme by the Central Sector, aims to provide financial aid for generating employment opportunities in rural and urban areas. The CBI’s FIR highlights a series of offenses such as criminal conspiracy, cheating, forgery, breach of trust, and corruption in the approval and diversion of PMEGP loans at a J&K Bank branch in Sumbal starting from 2022.
According to the FIR, bank officials collaborated with beneficiaries and private individuals to secure approval for multiple PMEGP loans, which were then redirected to the accused’s accounts through falsified invoices and bills. This diversion of funds, in collusion with unidentified public servants, led to financial losses for the bank and the public exchequer, benefiting the accused and the involved public servants.
The case involves 19 accused individuals, public servants from KVIB, KVIC, and DIC, as well as bank officials and private persons. It falls under various sections of the Indian Penal Code and the Prevention of Corruption Act, addressing offenses like criminal conspiracy, criminal breach of trust, cheating, forgery, and corruption.
