Arunachal: Rs 14 crore loan scam rocks Roing Apex Bank, manager suspended

A major financial scandal has rocked the Arunachal Pradesh State Cooperative Apex Bank, with its Roing branch identified as the focal point of a Rs 14 crore loan fraud. The scheme allegedly involved gross misuse of the Kisan Credit Card (KCC) facility, bypassing established banking protocols and triggering alarm at the highest levels of the institution.

At the heart of the controversy is M/s Hapi Enterprise, a KCC account holder that reportedly received credit far exceeding the Rs 3 lakh threshold normally permitted under the scheme. The disbursements were carried out over a span of several months—from February to August 2024—without requisite documentation or adherence to eligibility criteria.

The branch manager, Anisha Apum—who is also the wife of sitting Dambuk MLA Puinnyo Apum—has been suspended following the issuance of a show-cause notice on April 27. The action comes amid growing scrutiny and public outrage over mounting financial irregularities within the bank.

Confirming the breach, Apex Bank’s Managing Director Bittu Kri stated that the Roing incident is not an isolated case. “Over 100 similar cases have been unearthed across branches, some involving even greater sums,” he said.

Currently, the Apex Bank is battling a financial crisis with non-performing assets (NPAs) amounting to Rs 121.94 crore—representing 31% of its total lending portfolio. Bank insiders suggest that day-to-day operations are now heavily dependent on depositors’ capital and emergency funding from the State Bank of India.