The Crime Investigation Department (CID) of Telangana Police arrested Bukya Suresh (37), an IDBI Bank Manager from Mumbai, in connection with a Rs2.86 crore loan fraud that originated in 2021. Suresh is the seventh person arrested in the case, following five arrests made two weeks prior.
Currently posted at IDBI’s CBD Belapur branch in Mumbai, Suresh had previously served as an assets officer at the Sattupally branch, where the scam occurred. He was produced before a local magistrate and sent to judicial remand on Saturday.
The case involves the unauthorised sanctioning of loans to 305 individuals between March 2015 and September 2016. The fraud included Rs2.61 crore in Kisan Credit Card loans disbursed to 279 farmers and Rs25 lakh in microloans to 26 others.
An internal audit for FY 2018–19 raised red flags due to procedural lapses and suspicious transactions. A joint investigation by the bank and revenue authorities confirmed that forged pattadar passbooks were used to obtain loans fraudulently.
Among the main accused are Nallagopula Ramesh, former branch head of Sattupally IDBI, and Chettipogu Suresh, a business correspondent, who allegedly colluded with others to submit fake documents.
The case has been registered under multiple sections of the Indian Penal Code (IPC), and the investigation is ongoing.
