On July 30, 2020, Central Bureau of Investigation (CBI) arrested Relationship Manager and a Rural Sales Executive for allegedly demanding and accepting a bribe of Rupees Two Lakhs to sanction and disburse loan to a customer.
A farmer from Baramati who also runs a business and had applied for a loan of Rupees 99 Lakhs, approached the CBI with a complaint of bank officials demanding bribe from him. After Preliminary Verification, a team from Anti-Corruption Branch of the CBI, Pune laid a trap in Baramati in the evening on July 29th and arrested the Rural Sales Executive: Ganesh Dhaygude, of HDFC Bank red-handed while accepting a bribe of Rupees Two Lakhs, who was sent by the accused (Relationship Manager). Nitin Nikam the accused was also arrested subsequently. In the complaint, it was alleged that the Relationship Manager had a demand for the bribe of Rupees 2,70,000/- which was later negotiated to Rupees 2.25 Lakhs, for sanction and disbursement of the loan. Search was conducted at the office and residential premises of the accused at Baramati till early hours of Friday (July 31st).
HDFC said in a statement that it would initiate action against its employees and co-operate in the investigation as well. “The matter has been brought to our notice. As a responsible corporate, we have zero tolerance towards any such deviations or acts by our employees. Appropriate staff action would be initiated and we will support the police in its investigation,” the Bank said.
CBI officials said that the case is arguably first of its kind in the country, where the officers of private sector bank have been arrested under the charges of bribery. The primary preview of the Anti-Corruption Branch of CBI is that cases of Central Government public servants fall under Prevention of Corruption Act. In a 2016 judgement, the Supreme Court has ruled that officials of private sector bank to be treated as public servants under the Prevention of Corruption Act.
The arrested accused were scheduled to be produced before a competent court at Pune on Friday, the CBI press statement said.