Actor and entrepreneur Preity Zinta has refuted claims propagated by the Kerala unit of the Indian National Congress regarding an alleged loan write-off linked to her name. The controversy stems from allegations that Zinta had secured an ₹18 crore loan from the scandal-ridden New India Cooperative Bank, which was purportedly written off before the bank’s collapse. The actress took to social media to set the record straight, labeling the claims as “fake news.”The Kerala Congress unit, in a post that quickly garnered widespread attention, alleged that Zinta had relinquished control of her social media accounts to the ruling Bharatiya Janata Party (BJP) and, in return, benefited from a loan write-off. The post insinuated that the collapse of New India Cooperative Bank was linked to such financial mismanagement.She gave her social media accounts to BJP and got 18 Cr written off and the bank collapsed last week.Depositors are on the streets for their money. pic.twitter.com/UnEMMUgslY— Congress Kerala (@INCKerala) February 24, 2025Zinta, best known for her roles in films such as Veer-Zaara and Kal Ho Naa Ho, responded, unequivocally stating that the loan had been fully repaid over a decade ago. “No one wrote off anything or any loan for me. I operate my social media accounts myself, and shame on you for promoting fake news!” she wrote on X (formerly Twitter), dismissing the accusations.She also took the handle, which is affiliated with the Kerala Congress, to task, saying, “I’m shocked that a political party or their representative is promoting fake news and indulging in vile gossip and click baits using my name and images.”No I operate my social media accounts my self and shame on you for promoting FAKE NEWS ! No one wrote off anything or any loan for me. I’m shocked that a political party or their representative is promoting fake news & indulging in vile gossip & click baits using my name &… https://t.co/cdnEvqnkYx— Preity G Zinta (@realpreityzinta) February 25, 2025Congress Kerala acknowledges possible errorFollowing Zinta’s rebuttal, Congress Kerala adopted a conciliatory tone. “We are glad to accept mistakes if we have made any,” the party unit responded. However, they maintained that their statements were based on media reports, citing a piece from IndianCooperative.com that linked Zinta’s name to the broader financial irregularities surrounding New India Cooperative Bank.Good to know you’re managing your own account, unlike other celebs who have handed theirs over to the notorious IT cell.Thanks for the clarification, @realpreityzinta regarding your loan position. We are glad to accept mistakes if we have made any.We shared the news as… https://t.co/4aouqLaWue— Congress Kerala (@INCKerala) February 25, 2025The Congress unit further referenced a 2020 letter in which former employees of the bank had allegedly warned the Reserve Bank of India (RBI) about corruption and mismanagement within the institution. The report claimed that high-value corporate loans were sanctioned without proper due diligence, leading to significant non-performing assets (NPAs).Also Read | What is the fraud at Mumbai’s New India Cooperative Bank, why depositors can’t get their moneyWhat is The New India Cooperative Bank scamThe New India Cooperative Bank fraud involved the disappearance of significant amounts of cash from the bank’s safes. During an RBI inspection on February 12, 2025, officials discovered that ₹112 crore was missing from the Prabhadevi branch and an additional ₹10 crore was unaccounted for from the Goregaon branch.Hitesh Mehta, the former general manager and head of accounts at the bank, was arrested by Mumbai Police’s Economic Offences Wing (EOW) for allegedly siphoning ₹122 crore. He reportedly collaborated with developer Dharmesh Paun, who assisted in laundering the embezzled funds. Another suspect, Unnanathan Arunachalam, is also under investigation for his alleged involvement.Following the revelation of the scam, the RBI imposed stringent restrictions on the bank, preventing new loans, investments, and even withdrawals for depositors. The bank’s board of directors was dismissed, and a former SBI general manager was appointed as an administrator to oversee its operations.Repercussions and political undertonesZinta, a co-owner of the Punjab Kings IPL franchise, has previously distanced herself from direct political involvement, but her name being drawn into a banking controversy underscores how high-profile figures often find themselves at the intersection of business, finance, and politics.Story continues below this adFor now, the Congress Kerala unit has shifted the onus onto the media, saying their claims were based on publicly available reports rather than direct accusations. Meanwhile, Zinta remains firm in her stance, dismissing the allegations as misinformation and calling for responsible journalism.