Allahabad Bank ₹27 Lakh Fraud: EOW Nabs Manager in Agra After 19-Year Chase
Published: July 15, 2025 | 4 min read
Lucknow / Agra — A 19-year-old banking scam just got a dramatic twist! The Economic Offences Wing (EOW) of Uttar Pradesh Police has arrested Chhedalal Anuragi, a former Allahabad Bank manager, in Agra for his role in a ₹27 lakh fraud that rocked the bank’s Atarra branch in Banda back in 2006. Now a branch manager at Indian Bank’s Holipura branch in Agra (following the 2020 merger of Allahabad Bank into Indian Bank), Anuragi was nabbed after years of evading justice. This high-stakes arrest has reignited buzz about financial fraud and accountability in India’s banking sector. Want to know how this audacious scam unfolded and what it means today? Let’s unravel the story!
A Fraud That Shook Banda’s Banking Scene
Back in 2006, a group of bank employees and private individuals pulled off a cunning heist at Allahabad Bank’s Atarra branch in Banda, Uttar Pradesh. Using fake accounts, forged cheques, and manipulated reports, they siphoned off ₹27 lakh, leaving the bank reeling. The scam, masterminded through meticulous deception, involved creating fictitious accounts and issuing fraudulent cheques to divert funds. Chhedalal Anuragi, then a Retail Banking Officer, was a key player, allegedly exploiting his position to facilitate the fraud. The case, registered under sections of the Indian Penal Code (IPC) for cheating and forgery, went cold for years as the accused scattered. But the EOW’s dogged pursuit finally paid off, with Anuragi’s arrest on July 14, 2025, in Agra, as confirmed by posts on X from @Uppolice and @News1IndiaTweet.
EOW’s Crackdown: Justice After Two Decades
The EOW’s breakthrough came after a tip-off led them to Anuragi, who had climbed the ranks to become a branch manager. The arrest, detailed by Dainik Bhaskar, marks a significant win for Uttar Pradesh’s fight against financial crimes. The EOW revealed that 11 individuals were implicated in the scam, with Anuragi among the last to be nabbed. “This sends a clear message: no one escapes the law, no matter how long it takes,” an EOW official told reporters. The case, which also involves charges under the Prevention of Corruption Act, highlights the complexities of tackling white-collar crime, especially when bank insiders are involved. X users like @abstarnews_ are abuzz, hailing the arrest as a step toward cleaning up banking fraud, though some, like @raftaar, question why it took 19 years to catch him.
Why This Case Hits Home
This isn’t just about ₹27 lakh—it’s about trust in India’s banking system. Allahabad Bank, now part of Indian Bank, has faced multiple frauds, including a ₹2,000 crore exposure in the 2018 Nirav Modi-PNB scandal and a ₹1,774 crore fraud by Bhushan Power and Steel in 2019. The Atarra scam, though smaller, exposes how insider collusion can erode public confidence. For small-town depositors in Banda, this fraud hit hard, impacting farmers and local businesses who relied on the bank. The EOW’s action shows a renewed push to hold powerful insiders accountable, but it also raises questions about systemic loopholes that let such scams fester.
What’s Next for Banking Reforms?
Anuragi’s arrest is a wake-up call. With India’s banking sector under scrutiny—think PNB’s ₹11,400 crore fraud or recent cyber scams—the government and RBI are tightening the screws. The Bihar Businessmen Accident Death Scheme (announced the same day) shows a focus on supporting honest taxpayers, but fraud prevention needs equal attention. Will Anuragi’s conviction lead to stricter bank audits? Can the EOW keep up the heat on other fugitives? As investigations continue, this case is a reminder: no scam is too old to crack. Stay tuned for more on this unfolding drama
