Axis Bank Accused of Returning Fake Gold to Customer: Rana Debnath says fake jewellery returned after ₹9,02,600 repayment
Agartala, July 23, 2025 — A serious allegation has been leveled against Axis Bank by a resident of Agartala who claims that the bank returned fake imitation gold jewellery instead of his original ornaments, after he cleared a gold loan of ₹9,02,600.
The customer, Rana Debnath, a resident of the Airport Road locality, had mortgaged his family’s gold ornaments at the Durjoynagar branch of Axis Bank in July 2024. After repaying the full loan amount this month, Mr. Debnath visited the branch to collect his pledged gold.
To his dismay, the ornaments returned were allegedly not the ones he had deposited, but artificial City Gold items, which are easily available in the imitation jewellery market.
“I gave them real gold, and they handed me back fake, glittery jewellery labelled as City Gold. This is cheating by a reputed private bank,” said Rana Debnath, speaking to reporters.
He immediately filed a formal police complaint at the West Agartala Police Station, demanding a thorough investigation. According to his statement, the items returned were lighter and noticeably different in design and finish from what was originally mortgaged.
The incident has gained traction on social media after Mr. Debnath shared a video comparing the fake ornaments with his original receipts. The video has gone viral in Tripura, leading to widespread public anger and calls for accountability.
Axis Bank has yet to issue an official statement, but sources confirm that an internal inquiry has been launched. Local police have begun examining CCTV footage and custody records related to the pledged gold.
Consumer rights groups have also taken note, with the Tripura State Consumer Protection Council planning to seek clarification from the bank.
This incident has raised larger questions about security, transparency, and accountability in gold loan procedures, especially in private sector banks.
Follow northeastpress.in to get the latest updates first.
