Uttar Pradesh STF arrested a senior Union Bank of India official, Nitin Chaudhary, for his alleged role in a large-scale loan scam under the Pradhan Mantri Mudra Yojana. The racket used forged documents and fake identities to fraudulently sanction loans worth crores across multiple banks. Chaudhary admitted to personally approving several fraudulent loans, with funds routed to fake firms.
