The Special Judge for CBI Cases, Hyderabad, on Wednesday convicted two bankers of Union Bank of India in a fraud case and sentenced them to five years of rigorous imprisonment and imposed a fine of ₹75,000 each. Pillendla Phani Prasad and Chintakuntla Pandurangam Chalapathi, former branch manager and assistant manager respectively of the Union Bank of India, Asif Nagar branch, and Yerram Koteswara Rao, a proprietor of a private company, the CBI in a note said, conspired to sanction 23 group housing loans without proper identification of the borrowers based on false documents amounting to ₹1.15 crore. The sanctioned loan amount was withdrawn by the said owner and a part of the amount…
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Two bankers awarded five-year rigorous imprisonment
