Daijiworld Media Network - New Delhi

New Delhi, Sep 20: In a major crackdown on banking corruption, a CBI court in Ghaziabad on Saturday sentenced Manoj Srivastava, former Branch Manager of Union Bank of India (SSI Branch, Noida), to four years of rigorous imprisonment and imposed a fine of Rs 30,000 for his role in a Rs 40 lac loan fraud case.

The Central Bureau of Investigation (CBI) had registered the case on December 14, 2010, following allegations that Srivastava had misused his official position to conspire with others and defraud the bank.

Between May 2007 and June 2009, Srivastava, while serving as Branch Manager, allegedly colluded with accountant Anil Kumar Govil and sanctioned a loan of Rs 40 lac to Rajeev Buddhiraja, proprietor of M/s Bharti Associates, based on forged and fraudulent documents.

The fraudulent transaction caused significant financial loss to the bank, the CBI said in a statement.

A charge sheet was filed on September 29, 2012, naming Srivastava, Govil (Manager, Scale-II), and Buddhiraja as accused. Charges were officially framed by the court on July 7, 2017.

On August 22, 2025, Srivastava submitted a plea of guilt before the Special Judge at the CBI Anti-Corruption Court in Ghaziabad. The court accepted his plea and delivered the sentencing on Saturday.

The case is part of a broader CBI campaign to clamp down on corruption within public sector banks. Earlier this month, the agency arrested a branch manager of UP Grameen Bank and a private individual while allegedly accepting a Rs 30,000 bribe in Farrukhabad district.

The CBI has reiterated its commitment to holding public officials accountable for actions that erode trust in financial institutions and impact common citizens.