Margherita students’ union demands probe into fraud at Assam Gramin Vikash bank

The Margherita Regional Student Union has submitted a memorandum to the Margherita Co-District Commissioner, demanding urgent action in connection with a massive financial fraud unearthed at the Assam Gramin Vikash Bank’s Margherita Branch in Segunbari, Tinsukia district.

At the centre of the scandal is Minoti Baruah of Makumkilla, who was appointed as a "Bank Mitra" (bank correspondent) by the branch and officially issued an identity card. 

Taking advantage of this position, Baruah allegedly fraudulently availed loans in the names of nearly 25 to 30 unsuspecting villagers from the Bhitorpawoi and Makumkilla areas under the Margherita Police Station. She has since gone absconding, leaving the affected villagers in deep financial distress.

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Accusing a nexus between bank officials and the accused, the students’ union, along with local residents, has alleged gross negligence and complicity on the part of the bank. 

They claimed that the villagers, most of whom are poor and unaware of the fraudulent loans taken in their names, now face undue financial burdens.

The memorandum submitted on Wednesday calls for a high-level probe into the role of the bank authorities, immediate arrest of Minoti Baruah, and financial relief for the defrauded villagers.