A banking fraud that has rocked Punjab’s Faridkot district, a State Bank of India (SBI) clerk allegedly defrauded over 180 customers of approximately Rs 14 crore by exploiting long-standing personal relationships. The accused, Amit Dhingra, was produced before a duty magistrate today after being arrested from Mathura, Uttar Pradesh — ending a state-wide manhunt triggered by fears he might flee the country.
Dhingra had been employed at the Sadiq branch of SBI for nearly 15 years. Police sources revealed that during this time, he cultivated close ties with customers — many of them rural depositors — and used their trust to siphon off funds. Victims were reportedly lured into believing their money was securely invested in fixed deposits or Kisan Credit Card (KCC) schemes. In reality, the accused allegedly manipulated account records, prematurely closed deposits, and issued fake documents.
FIR Registered Under New Penal Provisions, LOC Issued
Following multiple customer complaints, an FIR was registered on July 21 under Sections 318(4), 316(2), and 344 of the newly implemented Bharatiya Nyaya Sanhita (BNS). These sections pertain to cheating, breach of trust, and falsification of records. The case was filed based on a complaint from Shashank Shekhar Arora, the deputy manager of the branch, and a Look-Out Circular (LOC) was simultaneously issued against Dhingra to prevent any attempt to leave the country.
The police launched a full-scale investigation and coordinated with agencies across states to trace the absconding clerk. Their efforts culminated in Dhingra’s arrest from Mathura, bringing some relief to the scores of affected families.
Rural Victims Speak: Fake Slips, Vanished Deposits
Jaswinder Singh, a resident of Kauni village, revealed that his family alone lost more than Rs 1 crore. “We were handed fake fixed deposit slips worth Rs 26 lakh. For weeks, we felt helpless and devastated. His arrest has rekindled hope that we might get our money back,” he said.
Boota Singh, another victim from the same village, reported losing Rs 4.70 lakh from his own account and an additional Rs 7 lakh from his mother Gurmej Kaur’s account. “We trusted the bank, and he took advantage of that trust,” he said, urging faster recovery mechanisms.
SBI’s Response: Internal Probe and Customer Relief in Motion
In the aftermath of the revelations, SBI has initiated a parallel internal investigation. A special team headed by Assistant General Manager (AGM) Praveen Soni has been formed to audit affected accounts, determine the total extent of the fraud, and facilitate recovery.
Bank officials have assured customers that necessary action will be taken to resolve grievances and restore faith in the institution. The team is reviewing all fixed deposit and KCC records linked to Dhingra’s tenure at the branch, and further misappropriations are expected to come to light as the investigation deepens.
What Lies Ahead: Broader Impact and Legal Course
With over 186 formal complaints filed so far and the possibility of more victims emerging, the Faridkot police anticipate that the total value of the fraud could increase. Legal proceedings are underway to attach Dhingra’s assets and recover funds.
The case also raises broader concerns about internal controls within public sector banks and the vulnerability of rural depositors to insider fraud. Authorities are now urging tighter auditing procedures and customer awareness drives, especially in semi-urban and rural areas.