Mangalore Today News Network

The Chief Manager of the State Bank of India, Mallikatte branch, has filed a complaint alleging a loan fraud in which a former Relationship (SME) Manager and 14 borrowers colluded to obtain MSME loans using misleading documents, causing the bank a loss of more than Rs 10.47 crore.

According to Chief Manager Saurabh Kumar Verma, who assumed charge on June 2, 2025, the bank’s former Relationship Manager Abhishek Nanda, who worked at the branch between June 27, 2022, and November 20, 2024, had sanctioned several loans without conducting proper verification. He allegedly processed applications submitted by various individuals for businesses ranging from electronics trading, solar rooftop equipment supply, plywood trading, arecanut trading, poultry feed production

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