Srinagar, February 18, 2026 : Five employees of HDFC Bank have been arrested in connection with a major financial fraud unearthed in Shopian district of Jammu and Kashmir.
According to an official spokesperson, the Economic Offences Wing (EOW) of the Crime Branch conducted coordinated searches across Shopian and Budgam districts on Wednesday as part of the ongoing investigation.
“So far, five HDFC Bank employees have been arrested in the case,” the spokesperson said, identifying them as Adil Ayoub Ganai, Irfan Majeed Zargar, Mubashir Hussain Sheikh, Zaid Manzoor, and Javaid Ahmad Bhat.
He added that search operations are still underway at multiple locations to gather documentary and digital evidence linked to the alleged fraud, which came to light following a written complaint received by the authorities.
Officials, however, did not disclose further details regarding the nature of the fraud or the modus operandi adopted by the accused, stating that the investigation is at a crucial stage.
