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Man Arrested in Rs 40 Lakh Canara Bank Loan Fraud Case in…

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activeCyber Crime / Digital ArrestAssam

Man Arrested in Rs 40 Lakh Canara Bank Loan Fraud Case in Guwahati

The Assam Police Criminal Investigation Department arrested a resident of Guwahati in connection with an alleged vehicle loan fraud targeting Canara Bank branches in the greater Guwahati area. Investigators acted on a complaint lodged by the bank regarding loans totalling forty lakh rupees that were obtained through allegedly fraudulent means.

State

Assam

First reported

October 2026

Agency involved

Assam Police Criminal Investigation Department (CID)

Arrests

One man arrested

Status

The primary accused has been arrested and the CID is investigating the case.

The full story

Everything you need to know about this case, in one place.

According to reports, the bank's internal enquiry discovered that four vehicle loans of eight lakh rupees each were disbursed by the Ulubari branch between February and June 2023. An additional eight lakh rupee loan was sanctioned by the Amingaon branch under a commercial vehicle scheme.

Authorities stated that the fraud came to light after the loan accounts turned into non-performing assets. An internal bank enquiry allegedly revealed that the accused and associates used forged vehicle quotations, registration certificates, and insurance documents to secure the funds from multiple branches.

Not yet reported: The articles do not mention specific formal legal charges or sections cited against the accused, nor the current legal status of the associates mentioned in the complaint.

Where the case stands

The latest position in the reports we read.

The accused has been arrested by the CID from his residence, and the investigation into the multi-branch loan fraud continues.

Who was affected

Described in general terms; we do not name victims.

Canara Bank branches in Ulubari and Amingaon, which suffered financial losses totaling forty lakh rupees after multiple loan accounts turned into non-performing assets.

Timeline

Key dates as reported, oldest first.

February to June 2023Four vehicle loans were sanctioned and disbursed by the Canara Bank Ulubari branch.

October 6The accused was arrested by the Assam Police CID from a residence in Birubari.

How the scam worked

The method described in the reports.

Loan applications were submitted to different Canara Bank branches in the Guwahati area.
Fake vehicle quotations, registration certificates, and insurance papers were prepared.
Loans were sanctioned in the names of multiple individuals across different branches.
Funds were disbursed by the bank based on the allegedly forged paperwork.
The loan accounts eventually defaulted and turned into non-performing assets, prompting an internal enquiry.

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Sources and further reading

Optional. The full story is above; these are the original reports it was prepared from.

sentinelassam.comOriginal report The Sentinelsentinelassam.com Man Arrested in Rs 40 Lakh Canara Bank Loan Fraud Case in Guwahati - The Sentinel - of this Land, for its PeopleThe Sentinel - of this Land, for its People · 8 Oct 2026

Prepared by Report Scams, with the help of AI, from the published reports listed above. Check those reports for the latest. Cases here describe allegations. An FIR, arrest or charge is not a finding of guilt. To report a mistake, or to ask for a correction or removal, write to our Grievance Officer. See also the Safe Posting policy.