Hyderabad: The Central Bureau of Investigation has registered a case against a State Bank of India (SBI) cashier in East Godavari district in connection with Rs 70 lakh gold loan scam.
The CBI booked Rapaka Venkata Ramana Murthy, cash incharge at SBI Sakhinetipalli branch, under Indian Penal Code (IPC) sections of cheating and criminal breach of trust after he allegedly siphoned Rs Rs 70 lakh.
Murthy fraudulently opened hundreds of accounts between 2016 and 2020, credited gold loan amounts and withdrew the cash, the CBI alleged.
The fraud came to light in January this year. “Murthy created gold loans without pledging the required gold ornaments. He credited the loan amounts to 319 savings bank accounts of 246 people involving a sum of Rs 66 lakh. There was a mismatch in the gold loans sanctioned and gold mentioned. In 37 instances alone, gold loans sanctioned were more than the ornaments,” the CBI said.
Most loan applications did not have…

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