₹7 crore gold loan fraud exposed at Canara Bank branch in Maharashtra; two arrested

A case of alleged fraud involving theft of ornaments from gold loan accounts and their replacement with fake jewellery has been detected at a Canara Bank branch in Maharashtra's Jalna district. Two persons have been arrested and a case registered against the bank's Badnapur branch manager, another officer, and a gold appraiser for criminal breach of trust, fraud, and negligence. The irregularities were detected during a routine quarterly revaluation of gold loan packets.