Visakhapatnam, 7th February 2022: The Central Bureau of Investigation has today arrested a Branch Manager, Equitas Small Finance Bank, Dwarakanagar Branch, Visakhapatnam while demanding & accepting a bribe of Rs.1.30 lakh from the complainant.

A case was registered against the Branch Manager, Equitas Small Finance Bank, Dwarakanagar Branch, Visakhapatnam on the allegations that the complainant who was running a shop in Vizianagaram approached Equitas Small Finance Bank, Dwarakanagar Branch, Visakhapatnam for Business Loan of Rs.20 lakh for running his business. It was further alleged that the Branch Manager called the complainant & demanded payment of 10% of the loan amount(of Rs.20 lakh) i.e. Rs.2 lakh as bribe. The accused further informed the complainant that the loan has been sanctioned and allegedly reiterated the demand of bribe for facilitating disbursement of the loan amount.  After negotiation, the accused allegedly reduced the bribe to Rs.1.30 lakh. It was also alleged that the accused informed the complainant that the loan amount of Rs.20 lakh had been disbursed & credited into his account.

CBI laid a trap and caught the accused red handed while demanding & accepting bribe of Rs.1.30 lakh from the complainant. Role of a Clerk, State Bank of India, Vizianagaram is also being looked into the case.

Searches are being conducted at the office & residential premises of the accused at Visakhapatnam and Vizianagaram.

The accused will be produced tomorrow before the Competent Court at Visakhapatnam.