Shimla: A multi-crore banking fraud has surfaced in Himachal Pradesh’s capital, with bank officials accused of deliberately turning MSME loan accounts into non-performing assets (NPAs) as part of an alleged conspiracy.
According to preliminary inputs, loans sanctioned under the MSME category were reportedly mishandled, with due diligence norms flouted and financial assessments allegedly manipulated. Investigators suspect a nexus between bank officials and certain beneficiaries to ensure that the accounts slipped into default.
Sources said the irregularities point to intentional mismanagement of loan portfolios, raising concerns over possible siphoning of funds. The alleged scam has resulted in significant financial losses and has put the spotlight on internal monitoring mechanisms within the banking system.
Authorities have initiated a probe into the matter, and several officials are under scrutiny. Legal action under charges of fraud, criminal conspiracy, and breach of trust is expected as the investigation progresses.
The case has triggered fresh concerns over transparency and accountability in MSME loan disbursal, a sector considered vital for supporting small businesses and driving economic growth.
