Dehradun: A major fraud has surfaced at UCO Bank’s Garhi Cantt branch in Dehradun, where 17 businessmen allegedly took ₹1.44 crore under the Mudra Loan scheme but neither started the proposed businesses nor repaid the instalments.

Branch Manager Ankita Mishra reported that several applicants used forged documents, some shut down their businesses after receiving the loan, and many units were found non-existent during verification.

Cantonment Police Station in-charge Kamal Loonthi said an FIR has been registered against all 17 accused. He also suspected possible collusion of bank staff, as loans were approved despite multiple firms being listed at the same address.

Police have launched an investigation into the entire scam.

Himalayan Live Bureau

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