The Central Bureau of Investigation (CBI) has registered a corruption and cheating case against a suspended branch manager of the State Bank of India (SBI) in Gandhinagar for allegedly orchestrating a systematic fraud involving loan accounts, diversion of funds, misuse of banking procedures and misappropriation of public money, causing an estimated loss of Rs 1.18 crore to the bank, sources in the agency said.
Case Registration
The case was registered by the CBI’s Anti-Corruption Branch in Gandhinagar on Wednesday on the basis of a complaint filed by Rohit Kumar, assistant general manager at SBI’s Regional Business Office-I, Gandhinagar.
Allegations Against the Accused
According to the FIR, the accused Amlesh Gamit, who served as branch manager of SBI’s Kadjodara branch between June 2022 and May 2025, allegedly manipulated customer accounts and loan transactions for personal gain. The complaint states that he was involved in “serious financial irregularities, manipulation of customer accounts, fraudulent operation of loan accounts, diversion of funds, misappropriation of bank money and violation of established banking procedures, resulting in substantial financial loss to the tune of Rs 1.18 crore approximately to the State Bank of India”.
Discovery of Fraud
The alleged fraud came to light after the bank received complaints and conducted an internal review of loan accounts. During the investigation, officials found irregularities in agricultural loans, Kisan Credit Card (KCC) accounts, Mudra dairy loans, and other credit facilities.
Modus Operandi
The FIR alleges that the officer “dishonestly and fraudulently utilised loan proceeds sanctioned in the names of various borrowers without their knowledge, consent or authorisation.” Investigators allege that the loan funds were diverted through intermediary accounts to obscure the true nature of the transactions.
One of the key findings relates to the alleged misuse of a branch parking account. According to the complaint, funds from various customer and loan accounts were temporarily parked and later transferred elsewhere without any legitimate banking purpose. Investigators have also identified nearly 12 intermediary accounts allegedly used to layer and route funds.
Involvement of Relatives
The complaint further alleges that money diverted from loan accounts was transferred to accounts linked to the officer’s relatives and associates, including his father and friends. The bank has also accused him of obtaining signed blank withdrawal forms, vouchers and security cheques from borrowers and using them to conduct unauthorised transactions.
Bank Action and CBI Investigation
SBI stated in its complaint that the officer was placed under suspension on Jan 3, 2026, and departmental proceedings are underway. The CBI has registered offences under the Prevention of Corruption Act, criminal breach of trust, cheating and conspiracy provisions, and has launched a detailed investigation into the alleged fraud.
