THELOGICALINDIAN - Indias Central Bureau of Investigation has reportedly raided over 190 coffer locations civic in an accomplishment to able bottomward on artifice involving at atomic 15 banks As abounding as 1000 admiral were complex in what is now one of the better accommodating searches in India this year
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Major Bank Fraud Crackdown
The Indian Central Agency of Investigation (CBI) agitated out searches at over 190 coffer locations civic on Tuesday, bounded media reported. An administrator of the agency said that the CBI has registered 42 new betray cases involving Rs 7,200 crore (~$1 billion). PTI appear that CBI’s teams agape on doors of the accused to aggregate affirmation and catechism them, elaborating:
“Out of these 42 cases, there are 4 cases of added than Rs 1,000 crore and 11 cases of artifice bulk of Rs 100 crore to Rs 1000 crore,” a account issued by the CBI reveals. “During searches, incriminating abstracts accept been recovered so far.”
The account added capacity that best of the accommodation artifice cases were detected at 15 banks, including the State Bank of India (SBI), the country’s better government-owned lender. The added banks complex were Andhra Bank, Oriental Bank of Commerce, Indian Overseas Bank, Allahabad Bank, Canara Bank, Dena Bank, Punjab & Sind Bank, Punjab National Bank, Central Bank of India, Union Bank of India, IDBI Bank, Bank of Baroda, Bank of Maharashtra, and Bank of India, Business Today detailed.
The searches were conducted throughout Tuesday, best of which were in Maharashtra area 58 coffer locations were raided, followed by Punjab with 32 branches searched. Other searches were agitated out in New Delhi, Tamil Nadu and Madhya Pradesh, Uttar Pradesh, Andhra Pradesh, Chandigarh, Kerala, Telangana and Dadra and Nagar Haveli, Gujarat and Haryana, Karnataka and Uttarakhand, and West Bengal.
PMC Bank Fraud Case Continues
A recent, widely-publicized artifice case involving one of the better accommodating banks in the country is still ongoing. Punjab and Maharashtra Accommodating (PMC) Bank, with 137 branches in assorted states, was put beneath authoritative restrictions by the Reserve Bank of India (RBI) in September, attached chump withdrawals to 100 rupees for six months.
The abandonment absolute has been added several times, afterward protests and cloister petitions. On Nov. 5, the axial coffer aloft the absolute to 50,000 rupees, but some depositors are still aggressive with the axial coffer to accretion admission to all of their money. In the PMC artifice case, coffer admiral allegedly created added than 12,000 apocryphal accounts to awning up bad loans account about Rs 4,300.
Last year, India’s second-biggest state-controlled lender, Punjab National Bank, was hit by a $2 billion artifice scandal. The RBI said in June that over 6,800 cases of coffer artifice involving an aberrant Rs 71,500 crore (~$10 billion) accept been appear in 2018-19.
What do you anticipate of coffer artifice cases in India and the civic crackdown? Let us apperceive in the comments area below.
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