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Bank Manager and Loan Agent Arrested in ₹9 Crore Fraud in Mohali

A serious case of fraud has come to light involving Punjab Gramin Bank in Mohali.

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Bank Manager and Loan Agent Arrested in ₹9 Crore Fraud in Mohali
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A major fraud case has emerged at Punjab Gramin Bank in Mohali, where bank manager and loan agent arrested for allegedly siphoning off ₹9 crore through fake loans. Former branch manager Harjeet Singh and loan agent Neeraj Kumar Kochhar face serious charges after investigators uncovered their elaborate scheme.

Anil Kumar, the chief manager of the bank’s regional office, filed the complaint. Between July 2022 and November 2024, Singh approved 62 fraudulent loans while working at the Naraingarh Jhugian branch. Consequently, the bank suspended him immediately after discovering the irregularities.

The fraud came to light when an inspection team from Kapurthala noticed suspicious patterns in loan disbursements. Subsequently, they found that applicants used forged documents, including salary slips, Form 16s, bank statements, and employment certificates. Moreover, investigators discovered that many supposed borrowers never applied for loans or simply didn’t exist.

The investigation revealed that loan amounts went directly into accounts controlled by both accused individuals. Specifically, Singh received money in his Punjab National Bank account, while Kochhar’s Axis Bank account showed suspicious transactions. Furthermore, Kochhar allegedly created fake borrowers and provided forged documents to support these applications.

Additionally, many signatures in loan files didn’t match the actual signatures on identity documents. However, Singh still approved these loans without conducting proper verification checks. This lack of due diligence raises serious concerns about internal controls.

Based on these findings, the bank concluded that Singh and Kochhar worked together to defraud the banking system. Initially, they approached the Central Bureau of Investigation, but the agency declined the case. Therefore, Punjab Police registered an FIR with charges including criminal breach of trust, cheating, forgery, and criminal conspiracy under the Bharatiya Nyaya Sanhita and Prevention of Corruption Act.

This incident highlights growing concerns in India’s banking sector. Recent reports indicate that fraud cases have increased by approximately 12% over the past five years. Meanwhile, Punjab’s public sector banks struggle with high rates of non-performing assets, making the financial climate particularly challenging.

In response, the Punjab Police have intensified their efforts against financial crimes. Over the past year, they registered more than 100 fraud cases, demonstrating their commitment to protecting public interests. Nevertheless, banks must strengthen their verification processes to prevent such incidents.

Overall, the case where the bank manager and loan agent arrested serves as a wake-up call for financial institutions. As this case proceeds through the judicial system, it will be crucial to ensure accountability and restore public trust in the banking sector.

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New Zealand vs West Indies Day 1: Record 323-Run Opening Stand Powers Hosts to Dominant Position

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The New Zealand vs West Indies third Test began with a stunning display at Bay Oval on Thursday. Captain Tom Latham and Devon Conway produced a record-breaking 323-run opening partnership, setting a World Test Championship record and putting New Zealand in complete control.

After winning the toss, Latham chose to bat first on a green pitch that typically offers seam movement. Initially, the decision seemed risky as West Indies bowlers found some assistance. However, both openers showed great patience during the challenging first hour.

Day 1 Scorecard Summary

Batsman Runs Balls Status
Tom Latham 137 246 Out (caught)
Devon Conway 178* 279 Not Out
Jacob Duffy 9* 16 Not Out
Total 334/1 90 overs Stumps

Record-Breaking Partnership

The opening duo combined brilliantly throughout the day. Moreover, they broke the WTC record previously held by Rohit Sharma and Mayank Agarwal, who scored 317 against South Africa in 2019. Additionally, their partnership became the second-highest opening stand in New Zealand’s Test history, just 64 runs short of Glenn Turner and Terry Jarvis’s 387 against West Indies in 1972.

Latham reached his 15th Test century and second of this series. Meanwhile, Conway played brilliantly to score his sixth Test hundred, finishing Day 1 unbeaten on 178.

Match Progression

New Zealand started cautiously, scoring only 11 runs from the first eight overs. Subsequently, both batters gained confidence as the West Indies struggled with consistency. The bowling attack failed to maintain pressure, particularly after lunch, when not a single maiden over occurred.

Following the rain delay of approximately 20 minutes, the partnership continued smoothly. Conway was especially impressed with delightful strokeplay through the off-side, hitting numerous boundaries through cover and point.

West Indies’ Struggles

The visitors showed glimpses of quality bowling but couldn’t create genuine chances. Furthermore, wicketkeeper Tevin Imlach dropped a crucial catch when Latham was on 104. This miss proved costly as the captain added 33 more runs.

Finally, Kemar Roach provided the breakthrough in the 87th over. He dismissed Latham for 137 after Roston Chase took a sharp diving catch at first slip. Nevertheless, the damage was already done.

Key Statistics

  • Highest WTC opening partnership: 323 runs
  • Conway’s strike rate: 63.8
  • Latham’s strike rate: 55.7
  • Total boundaries: 27 fours and 1 six
  • Overs bowled: 90

Looking Ahead

West Indies captain Roston Chase needs his bowlers to strike early on Day 2. Otherwise, New Zealand could post a massive first-innings total exceeding 500 runs. Chase had targeted 300 runs for his team before the match, acknowledging their batting struggles throughout the series.

The New Zealand vs West Indies contest now heavily favors the hosts. With Conway still batting and tail-enders capable of contributing, tomorrow promises more runs unless West Indies produce something special with the ball.

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Trump Announces Warrior Dividend: $1,776 Bonus Checks for 1.45 Million US Troops

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President Donald Trump announces warrior dividend payments of $1,776 to more than 1.45 million US military service members during a rare primetime address on Wednesday night. The president stated that checks are already in the mail and should arrive before Christmas.

Speaking from the White House Diplomatic Reception Room, Trump explained that the payment honors America’s founding year of 1776. Furthermore, he emphasized that tariffs and the recently passed “One Big Beautiful Bill” fund this initiative, which totals approximately $2.57 billion.

“Nobody deserves it more than our military,” Trump declared during his 18-minute televised speech.

Warrior Dividend Details

Aspect Information
Payment Amount $1,776 per service member
Total Recipients 1,450,000 troops
Total Cost $2.57 billion
Eligible Ranks Private to Colonel (and equivalents)
Funding Source Tariffs + “One Big Beautiful Bill”
Delivery Timeline Before Christmas 2025

Economic and Political Context

The announcement comes at a challenging time for Trump’s administration. Recent polls show his approval ratings sagging across multiple issues, particularly regarding the economy and inflation. According to a Marist poll released Wednesday, Trump’s overall approval rating stands at just 38%.

Moreover, CNBC’s All-America Economic Survey reveals that 66% of Americans disapprove of Trump’s handling of inflation. This represents an increase from 60% disapproval in April. Additionally, his economic approval rating has dropped to 36%.

However, Trump defended his economic record during the address. He claimed that prices are “coming down fast” and projected “the largest tax refund season of all time” in 2026. Nevertheless, economic data tells a different story. While fuel and egg prices have fallen, many other food items remain more expensive.

In September, US inflation hit 3% for the first time since January. Consequently, consumer confidence dropped to its lowest level since April due to concerns about living costs, jobs, and the broader economy.

Political Challenges Ahead

Senate Democrats held a press conference on Wednesday focusing on affordability issues. Senate Minority Leader Chuck Schumer emphasized that Democrats will repeatedly highlight rising costs leading up to the 2026 midterm elections.

“Costs are skyrocketing, and Democrats in 2026, you’ll be hearing from us about costs over and over again,” Schumer stated.

A Politico poll showed that about half of voters, including 4 in 10 Trump supporters, believe the cost of living is the worst they’ve experienced in their lives. Therefore, Republicans face significant challenges in maintaining their House and Senate majorities.

Foreign Policy and Military Actions

Trump also highlighted his foreign policy achievements during the address. He claimed to have ended eight wars since taking office, though this assertion faces scrutiny. Additionally, he discussed aggressive actions against Venezuela, including designating its government as a “terrorist” organization.

The administration has been conducting strikes on suspected drug-smuggling boats since September. These operations have killed 95 people so far, sparking debate about their legality.

Despite these controversies, Trump announces warrior dividend as a gesture of appreciation for military service members, aiming to boost morale and demonstrate support for troops during economically uncertain times.

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Alaves vs Sevilla Copa del Rey: Live Updates, Team News, and Match Preview

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The Alaves vs Sevilla Copa del Rey Round of 32 match takes place tonight at Mendizorroza Stadium in Vitoria. This single-elimination fixture promises intense action as both teams battle for a spot in the Round of 16.

Alaves enters the match with decent recent form, having won two of their last five games. However, they suffered a narrow 1-2 defeat against Real Madrid in their previous outing. Despite the loss, the team showed great fighting spirit and displayed high-quality football throughout the match.

Meanwhile, Sevilla arrives with tremendous confidence after crushing Real Oviedo 4-0 in their last game. The team brings strong attacking momentum and looks determined to advance further in the competition.

Recent Form Comparison

Team Last 5 Results Goals Scored Goals Conceded
Alaves W-W-L-L-L 6 6
Sevilla W-D-W-L-L 8 6

Head-to-Head Record

In their last five meetings, Alaves holds the advantage with three wins compared to Sevilla’s one victory. Additionally, one match ended in a draw. Both teams scored in all five previous encounters, suggesting tonight’s match could feature goals from both sides.

Team News and Injuries

Alaves will miss defender Facundo Garces, who continues serving a long-standing suspension. Otherwise, the team has a relatively healthy squad available for selection.

In contrast, Sevilla faces a lengthy injury list. Several key players remain sidelined, including:

  • César Azpilicueta (muscular problem)
  • Adnan Januzaj (left hamstring)
  • Tanguy Nianzou (muscular issue)
  • Orjan Nyland (injury)
  • Gabriel Suazo (recently returned from soleus muscle injury)
  • Rubén Vargas (unavailable)
  • Marcao (foot complaint – fourth consecutive match missed)
  • Kike Salas (groin injury)

Furthermore, forwards Chidera Ejuke and Akor Adams are absent as they represent Nigeria in the Africa Cup of Nations.

However, Sevilla receives positive news with the return of Peque after completing a one-match suspension. Moreover, Romero returns to the squad after serving a two-match ban following his red card in the derby against Betis.

Coach Matías Almeyda has called up eight players from Sevilla’s youth team, including goalkeeper Alberto Flores and striker Álex Costa. These young players featured in the recent 4-0 victory against Oviedo.

Match Preview

Alaves will rely on the speed of Carlos Vicente and the midfield balance of Antonio Blanco to make their home advantage count. The team aims to use the cold weather and passionate home support at Mendizorroza to their benefit.

On the other hand, Sevilla’s attacking prowess remains their biggest strength despite multiple absences. The team’s recent form shows they can score goals freely and maintain defensive solidity.

Both teams have scored in three of Sevilla’s last five matches. Therefore, fans can expect an entertaining contest with chances at both ends. The Alaves vs Sevilla clash promises excitement as these two competitive sides fight for Copa del Rey progression.

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