Rajkot: A loan department employee of a private bank’s Metoda branch was booked for allegedly defrauding a local farmer of Rs 21 lakh by siphoning off loan repayment funds into his wife’s personal account.The accused, identified as Bhavin Varsani, faces charges of criminal breach of trust and cheating following a complaint lodged on Thursday by the victim, Ajaysinh Jadeja (53).According to the complaint, Jadeja, a resident of Rajkot’s 150 Feet Ring Road with agricultural land in Dhandhni village, had secured an agricultural loan of Rs 23.60 lakh in April 2025 to finance home renovation. Varsani, then posted in the bank’s loan department, handled the documentation and developed a close relationship with Jadeja through frequent home visits.Six months after the loan disbursal, Jadeja decided to initiate repayments and informed Varsani. On the bank employee’s instructions, the farmer moved funds from his Gramin Bank account to his private bank account in two tranches: Rs 10 lakh via RTGS on Sept 25, 2025, and Rs 9 lakh via NEFT on Oct 6, 2025.On both occasions, Varsani visited the complainant’s residence in person, took possession of Jadeja’s mobile phone under the pretext of initiating the internal transfer to the loan account, and returned the device claiming the funds had been credited.During the second visit, Jadeja also handed over Rs 2 lakh in cash to be deposited toward the principal, bringing the total sum entrusted to Varsani to Rs 21 lakh.The fraud came to light in May 2026 after the bank contacted Jadeja regarding overdue interest. When confronted, Varsani allegedly downplayed the communication as routine administrative charges and claimed he would settle them personally.Jadeja subsequently visited the bank’s KKV branch on June 15, 2026, to inspect his loan ledger directly, only to discover that the Rs 19 lakh had been diverted to an account belonging to Varsani’s wife, while the Rs 2 lakh cash component was completely unaccounted for.Efforts to contact Varsani failed as his phone was permanently switched off. Although the accused’s father initially promised to repay the amount once his son resurfaced, the victim eventually approached police after months of inaction.
