The Economic Offences Wing (EOW) of Odisha Police on Wednesday arrested a Cuttack resident for his alleged role in a Rs 6.88 crore bank loan fraud involving 282 fake Xpress Credit loans availed from multiple State Bank of India branches in Bhubaneswar.
The accused, Pradipta Kumar Lenka, was picked up from Bhubaneswar in connection with a case registered at the EOW Police Station on May 5, 2026, following a complaint by SBI Regional Manager Shiba Sundar Sahoo.
According to investigators, Lenka acted as a middleman, helping 282 ineligible individuals fraudulently obtain SBI Xpress Credit Loans between May 2022 and November 2023 by furnishing fabricated employment records of firms such as Tata Steel, TPCODL, Vedanta, Dhamra Port and Aarati Steels. The loans were disbursed through SBI’s Rail Vihar, Fortune Tower, Patia and Damana branches.
“The arrested accused, in connivance with the loanees and others, managed to sanction and avail 282 Xpress Credit loans…by producing fake and fabricated employment records like salary certificates, employment details, bank statements and KYC documents,” the EOW said.
The loanees subsequently defaulted, turning all accounts into NPAs with an outstanding balance of Rs 6,88,29,323. EOW found Rs 3.23 lakh from the loan proceeds had been routed directly to Lenka’s account.
Four others, including three bank officials, were arrested earlier and remain in judicial custody.