{"id":41501,"date":"2026-09-21T12:28:10","date_gmt":"2026-09-21T12:28:10","guid":{"rendered":"https:\/\/jammubulletin.com\/site\/?p=41501"},"modified":"2026-09-21T12:28:10","modified_gmt":"2026-09-21T12:28:10","slug":"acb-registers-fir-over-%e2%82%b941-17-lakh-pmegp-subsidy-irregularities-former-jk-grameen-bank-branch-head-booked","status":"publish","type":"post","link":"https:\/\/jammubulletin.com\/site\/acb-registers-fir-over-%e2%82%b941-17-lakh-pmegp-subsidy-irregularities-former-jk-grameen-bank-branch-head-booked\/","title":{"rendered":"ACB Registers FIR Over \u20b941.17 Lakh PMEGP Subsidy Irregularities; Former J&#038;K Grameen Bank Branch Head Booked"},"content":{"rendered":"<p>Srinagar, Sept 21: The Anti-Corruption Bureau (ACB), Jammu &amp; Kashmir, has registered a case against a former Branch Head of J&amp;K Grameen Bank, a Business Correspondent and others over alleged financial irregularities, misuse of official position and premature release of capital subsidy under the Prime Minister\u2019s Employment Generation Programme (PMEGP).<\/p>\n<p>According to an ACB statement, the case pertains to alleged violations committed during the period 2021\u20132023 in connection with PMEGP loans and capital subsidy at the J&amp;K Grameen Bank Branch Office, Reban, Sopore, Baramulla.<\/p>\n<p>The ACB has named Arvind Saini, the then Branch Head of J&amp;K Grameen Bank, Reban Branch, and Firdous Ahmad Sheikh, Business Correspondent, along with others in the case.<\/p>\n<p>The anti-corruption agency said its verification found alleged violations of the PMEGP Operational Guidelines issued by the sponsoring agency and adopted by the bank through Circular No. 86 dated June 8, 2022.<\/p>\n<p>As per the ACB, \u20b941.17 lakh in capital subsidy was allegedly released or adjusted prematurely in 25 PMEGP loan accounts, before completion of the mandatory lock-in period and without the required authorisation or adjustment letter from the implementing agency.<\/p>\n<p>The ACB alleged that the premature adjustment of subsidy facilitated the unlawful closure or adjustment of loan accounts, in violation of the prescribed PMEGP procedures.<\/p>\n<p>The agency further stated that six of the loan accounts were sanctioned in favour of Business Correspondent Firdous Ahmad Sheikh and his family members, which were allegedly closed prematurely through adjustment of the subsidy amount.<\/p>\n<p>During the physical verification of PMEGP-financed units, the ACB said it found that 46 units financed through the branch were not existing at the locations concerned.<\/p>\n<p>The sanctioned\/disbursed amount involved in these 46 cases was stated to be approximately \u20b91.66 crore (\u20b91,66,72,000).<\/p>\n<p>According to the ACB, the non-existence of the units raised concerns regarding the diversion of loan funds and subsidy and allegedly frustrated the intended objectives of the PMEGP scheme.<\/p>\n<p>The agency has registered FIR No. 05\/2026 under Section 13(1)(a) read with Section 13(2) of the Prevention of Corruption Act, 1988, as amended in 2018, along with Sections 409 and 120-B of the IPC.<\/p>\n<p>The ACB said that further investigation into the case is underway.<\/p>\n<figure id=\"attachment_41502\" aria-describedby=\"caption-attachment-41502\" style=\"width: 300px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-41502\" src=\"https:\/\/jammubulletin.com\/site\/wp-content\/uploads\/2026\/09\/Screenshot-2026-09-21-at-5.56.16-PM-300x171.png\" alt=\"ACB Registers FIR Over \u20b941.17 Lakh PMEGP Subsidy Irregularities; Former J&amp;K Grameen Bank Branch Head Booked\" width=\"300\" height=\"171\" srcset=\"https:\/\/jammubulletin.com\/site\/wp-content\/uploads\/2026\/09\/Screenshot-2026-09-21-at-5.56.16-PM-300x171.png 300w, https:\/\/jammubulletin.com\/site\/wp-content\/uploads\/2026\/09\/Screenshot-2026-09-21-at-5.56.16-PM-1024x584.png 1024w, https:\/\/jammubulletin.com\/site\/wp-content\/uploads\/2026\/09\/Screenshot-2026-09-21-at-5.56.16-PM-768x438.png 768w, https:\/\/jammubulletin.com\/site\/wp-content\/uploads\/2026\/09\/Screenshot-2026-09-21-at-5.56.16-PM-549x313.png 549w, https:\/\/jammubulletin.com\/site\/wp-content\/uploads\/2026\/09\/Screenshot-2026-09-21-at-5.56.16-PM-470x268.png 470w, https:\/\/jammubulletin.com\/site\/wp-content\/uploads\/2026\/09\/Screenshot-2026-09-21-at-5.56.16-PM-233x133.png 233w, https:\/\/jammubulletin.com\/site\/wp-content\/uploads\/2026\/09\/Screenshot-2026-09-21-at-5.56.16-PM-230x131.png 230w, https:\/\/jammubulletin.com\/site\/wp-content\/uploads\/2026\/09\/Screenshot-2026-09-21-at-5.56.16-PM-360x205.png 360w, https:\/\/jammubulletin.com\/site\/wp-content\/uploads\/2026\/09\/Screenshot-2026-09-21-at-5.56.16-PM-100x57.png 100w, https:\/\/jammubulletin.com\/site\/wp-content\/uploads\/2026\/09\/Screenshot-2026-09-21-at-5.56.16-PM.png 1364w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-41502\" class=\"wp-caption-text\">ACB Registers FIR Over \u20b941.17 Lakh PMEGP Subsidy Irregularities; Former J&amp;K Grameen Bank Branch Head Booked<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Srinagar, Sept 21: The Anti-Corruption Bureau (ACB), Jammu &amp; Kashmir, has registered a case against a former Branch Head of J&amp;K Grameen Bank, a Business Correspondent and others over alleged financial irregularities, misuse of official position and premature release of capital subsidy under the Prime Minister\u2019s Employment Generation Programme (PMEGP). According to an ACB statement, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":41502,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-41501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-jammu-and-kashmir"],"gutentor_comment":0,"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ACB Registers FIR Over \u20b941.17Lakh PMEGP Subsidy Irregularities<\/title>\n<meta name=\"description\" content=\"The Anti-Corruption Bureau (ACB), Jammu &amp; Kashmir, has registered a case against a former Branch Head of J&amp;K Grameen Bank\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jammubulletin.com\/site\/acb-registers-fir-over-\u20b941-17-lakh-pmegp-subsidy-irregularities-former-jk-grameen-bank-branch-head-booked\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ACB Registers FIR Over \u20b941.17Lakh PMEGP Subsidy Irregularities\" \/>\n<meta property=\"og:description\" content=\"The Anti-Corruption Bureau (ACB), Jammu &amp; 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