BERHAMPUR: Police on Tuesday evening arrested the branch manager and a security guard of Utkal Grameen Bank (UGB)'s Hatiotta branch in Ganjam district for their alleged involvement in a scam worth over Rs 50 crore.
The branch manager, Nihar Kant Pradhan, 29, and the security guard, Ajay Panda, 36, were arrested after the bank's regional manager, Ajay Kumar Nayak, filed a complaint against the duo, alleging misappropriation of around Rs 52 lakh from the bank. "Pradhan sanctioned 26 loans to different organisations and joint liability groups (JLG) from August 2021 to March 2022. But instead of disbursing the funds to the loanees, he transferred the money to the security guard's account," said Prabha Sahoo, inspector-in-charge of the Kabisurya Nagar police station.
