A ₹24 crore fraud case has emerged at Union Bank's Ramachandrapuram branch in Hyderabad, investigated by the Cyberabad economic offences wing for allegations of cheating, forgery, and conspiracy. Filed by Murthy Kote Srinivasa, assistant general managing director, the case involves 11 accounts of borrowers who mortgaged properties. Notable companies implicated include R K Media Promotions (₹2.25 crore) and SVK Traders (₹2.66 crore), with the largest fraud attributed to SMR Granites Pvt Ltd (₹3.19 crore). Initially uncovered in March 2021, the case has led to increased scrutiny and ongoing investigations of additional companies.