The CBI on Friday raided 11 premises of the Vaidyanath Urban Cooperative Bank in Maharashtra in connection with the recovery of Rs 10 crore demonetised notes.
The CBI on Friday raided 11 premises of the Vaidyanath Urban Cooperative Bank in Maharashtra in connection with the recovery of Rs 10 crore demonetised notes. The Income Tax department on Friday raided the Kotak Bank’s KG Marg branch in connection with the survey of two of its customers and related accounts. Although the bank continues to deny that there were any fake accounts. According to Rohit Rao, Spokesperson of the Kotak Mahindra Bank, no deficiencies in the KYC norms was found. Rao said that the Income Tax department also questioned the bank manager in this aspect. Rao added that there was no submission of any adverse report to the bank and the bank fully denied that the existence of any fake accounts. Although the bank was extending full cooperation to the investigating agencies, he added.
Earlier yesterday, Axis Bank found itself under the scanner of the Income Tax department again after deposits of Rs 89 crore were found in 19 suspicious accounts. According to India Today, quite a lot of irregularities were found in the Ahmedabad branch of the bank with a suspicious money trail leading to bullion builders. It was also reported that 4 bank officials were under the Income Tax department’s scanner for their involvement in the case. Earlier this month, the I-T department had raided an Axis Bank branch in Central Delhi’s Chandni Chowk and reportedly found out about 44 fake accounts.
The officials said that these 44 fake accounts had been created by the usage of forged documents. they said that the investigators suspected that the money might have been routed to buy gold. This is the second such raid to have been reported at a branch of Axis Bank. The Income Tax Department had again conducted a raid at an Axis Bank branch in Noida and unearthed Rs 60 crore from the accounts of 20 shell companies. Axis Bank MD and CEO Shikha Sharma had said that the recent media reports on the conduct of the employees had left her embarrassed and upset.