Bihar News : A shocking case of financial fraud has surfaced in Bhagalpur district, where an agent allegedly duped 74 women out of ₹1.40 crore in the name of securing and repaying bank loans. The agent, who had gained the trust of many, is now on the run, leaving behind a trail of confusion, legal trouble, and financial distress for the victims.
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According to the women, the accused formed separate groups and helped them get loans from a bank. Once the loans were disbursed, the agent started collecting monthly installments (EMIs) from each woman by visiting their homes. The women believed that their loan payments were being submitted regularly to the bank.
However, the truth came to light only when the bank issued notices to the borrowers, stating that their installments had not been deposited and dues were pending. This created panic among the women, who had already completed their loan payment tenure and believed everything was settled.
Upon confronting the situation, it was revealed that the agent had been pocketing most of the money while depositing minimal or no amount to the bank. His phone has been switched off since the notices arrived, and he is reportedly absconding.
The affected women have lodged complaints with the local police and the concerned bank authorities. Many of them expressed how they trusted the agent blindly due to his professional appearance and friendly behavior. Most of the victims are from lower-income backgrounds and had taken the loans to support small businesses or household needs.
The bank has now initiated an internal investigation, while the police have launched a search to trace the accused. The case highlights the vulnerability of rural and semi-urban women to financial frauds, especially when intermediaries exploit loopholes in the system.
Victims are now urging the administration and government authorities to intervene and provide them relief, as they are not in a position to repay the huge sums again. Many have also demanded stricter checks on such agents and better transparency in loan repayment mechanisms.
This incident has once again brought attention to the urgent need for financial literacy, stricter regulation of loan agents, and improved digital monitoring to protect innocent borrowers.
