Punjab and Sind Banks chief manager of Mohali branch found dead; suicide suspected, note recovered
Reports suggest that the note raises questions about loans worth around Rs 3.5 crore issued for commercial vehicles, along with some other accounts.
PTC News Desk: The body of Punjab and Sind Bank's chief manager posted at Aerocity branch in Mohali was found from a canal near Chunni Kalan after he went missing. A suspected suicide note has also reportedly been found, which allegedly refers to certain non-performing asset (NPA) accounts and loan-related issues at the bank.
According to the information, the deceased Bhupinder Singh had been missing since last night.
Reports suggest that the note raises questions about loans worth around Rs 3.5 crore issued for commercial vehicles, along with some other accounts. It reportedly mentions a financial loss of around Rs 75 lakh and claims that Bhupinder had been paying loan instalments from his own pocket.
Preliminary information suggests that the loan was allegedly approved through an agent under pressure from a senior official at the bank’s head office. The agent was reportedly known to have close links with some senior officials.
It has also been alleged that the agent was not an authorised Direct Selling Agent (DSA) of the bank. The allegations further suggest that some other fake loans may have been issued to prevent the original loan from being classified as a non-performing asset (NPA).
Bhupinder was reportedly under considerable stress and pressure for the past two years.
The new branch manager had reportedly raised serious questions about the matter. The bank allegedly asked Bhupinder to disclose the truth and warned him about the possibility of a CBI investigation and arrest. Bhupinder subsequently died by suicide, according to the report.
The note reportedly puts the resulting financial loss at around Rs 75 lakh. It also states that Bhupinder had been paying instalments from his own pocket and had personally deposited around Rs 23–25 lakh into the accounts. The incident has left his family devastated. The note reportedly mentions a term insurance policy that could help meet his family’s future financial needs.
Bhupinder was the only son of his parents and is survived by his 10-year-old daughter, who is currently studying in Class 6. Police are investigating the matter. The allegations concerning the loans and the circumstances surrounding his death have not yet been independently established.