LUCKNOW, Jan. 23 -- "Everything is gone," said Ram Naresh, a cycle mechanic from Para, who had saved Rs.7.8 lakh over the years for the marriages of his three daughters. He said he managed to arrange his eldest daughter's wedding last November, but when he visited the bank to encash a fixed deposit for his second daughter's marriage scheduled on February 18, he was told the account had no balance. "I felt dizzy. We had to postpone the wedding. We trusted the bank," he said.

The alleged fraud at the Bank of Baroda branch located at the Shakuntala Mishra University campus has affected residents of Para, Budheshwar, Kakori and nearby areas, triggering panic among account holders.

"My father sold land for my future," said Janaki, a resident...