A major financial fraud involving a Bank of Baroda-linked banking correspondent, commonly known as a “bank mitra,” has left more than 50 families devastated in Kakori, on the outskirts of Lucknow. The accused is alleged to have siphoned off crores of rupees by creating fake fixed deposits (FDs), cheating account holders who had entrusted him with their life savings for critical needs such as daughters’ marriages and post-retirement security.
The scam came to light on Wednesday when customers visiting the bank branch located inside the Shakuntala Mishra University campus on Mohan Road discovered that their FDs did not exist in official bank records. As panic spread, dozens of victims gathered at the branch, many breaking down in tears upon realising that years of hard-earned money had vanished.
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Branch locked amid protests
Angry customers locked the bank branch and staged a sit-in protest, accusing both the bank and local police of negligence. The situation turned tense as demonstrators demanded immediate recovery of their money. Several elderly depositors and women were seen crying uncontrollably inside the premises.
The protest led to a heated exchange between customers and branch manager Himanshu Kukreti. Matters escalated further when bank staff attempted to intervene, resulting in a brief scuffle. Police were called in to restore order.
Savings meant for weddings and old age lost
Among the victims is Janki Devi, a resident of Salemapur Pataura, who collapsed in tears in front of bank and police officials. She said she had sold a piece of land years ago and deposited nearly ₹35 lakh to fund her daughter’s wedding, believing the money was safely invested in fixed deposits.
Another elderly couple from a nearby village said they had invested ₹10 lakh each in two FDs through the same bank mitra six months ago to ensure financial security in old age. “We trusted him because he worked for the bank. Now we have nothing to fall back on,” they said.
Salikram, another account holder, claimed ₹17.30 lakh was deposited in his account, but there was no clear record of the amount in the bank’s system. Even a portion of the salary of a university faculty member, Dr Ashutosh Pathak, is reported to be stuck in the alleged fraud.
Suspicious transactions uncovered
Bank officials and police, while examining account statements, have found multiple suspicious fund transfers. According to preliminary findings, large sums were transferred on different dates to several accounts. Transactions involving accounts in the names of Najia Bano, Noorjahan, Phool Chand and Avdhesh have raised red flags, with deposits allegedly diverted instead of being invested as promised.
Officials said the pattern suggests systematic misappropriation of funds rather than isolated wrongdoing.
Questions over police action
The incident has also triggered allegations against Para police. Several depositors claimed that the accused bank mitra, identified as Shiva Rawat, was taken into custody following Tuesday’s unrest but was later released, fuelling public anger and mistrust.
Para station in-charge Suresh Singh said the accused’s bank account had been frozen. He added that no formal written complaint had yet been submitted either by the victims or the bank. “Once we receive a written complaint, an FIR will be registered immediately,” he said.
Bank sends report to senior authorities
Branch manager Himanshu Kukreti said a detailed report based on complaints from affected customers had been prepared and forwarded to senior bank officials. “Further action will be taken as per directions from higher authorities,” he said, assuring cooperation in the investigation.
Police issue cautionary advice
In the aftermath of the scam, police advised customers to personally handle all banking transactions, avoid handing over cash or documents to intermediaries, obtain immediate receipts for any investment, and never share banking details over the phone.
The case has once again exposed serious gaps in oversight of banking correspondents and highlighted the vulnerability of rural and semi-urban customers who rely heavily on intermediaries for financial services.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
