By ayush 
Bhubaneswar : Economic Offences Wing (EOW) of Odisha Police has arrested four individuals involved in a Rs 8.1 crore loan scam at the State Bank of India (SBI).
The accused—Smruti Ranjan Sethy, M. Dibyashree Jyoti Ranjan from Jagatsinghpur, and Niranjan Behera & Debasish Behera from Bhubaneswar—were apprehended for orchestrating a fraudulent loan scheme spanning multiple SBI branches.
Investigations revealed that the suspects facilitated the sanctioning of 234 Xpress Credit Loans using fabricated employment records. Fake salary slips, employment letters, and KYC documents enabled ineligible applicants to secure loans, which were later defaulted, leading to non-performing assets of ₹4.77 crore.
Further financial scrutiny uncovered fund transfers to the accused from loanee accounts, confirming their role as middlemen in the fraudulent operation. Law enforcement authorities have seized a laptop and multiple mobile phones containing suspected incriminating material as part of the ongoing investigation.