CBI conducts searches at more than 100 places across country in connection with bank fraud of over Rs 3,700 Cr

• Integrity Education, Delhi
• 26, Mar 2021

Central Bureau of Investigation has conducted searches at more than hundred places across India in connection with more than 30 cases of bank fraud amounting to over 3,700 crore rupees. These searches are part of Special Drive to book the fraudsters on the complaints received from different public sector banks. The complainant banks include Indian Oversea Bank, Union Bank of India, Bank of Baroda, Punjab National Bank, State Bank of India, IDBI, Canara Bank, Indian Bank and Central Bank of India.

The cities or towns where the searches were conducted include Kanpur, Delhi, Ghaziabad, Mathura, Noida, Gurugram, Chennai, Thiruvarur, Vellore, Tiruppur, Bangalore, Gantur, Hyderabad, Bellary, Vadodara, Kolkata, West Godavari, Surat, Mumbai, Bhopal, Nimadi, Tirupati, Visakhapatnam, Ahmedabad, Rajkot, Karnal, Jaipur and Sri Ganganagar.

During searches, various incriminating documents and other material, digital evidence have been recovered.

CBI has been receiving a number of complaints from various  Banks  alleging cheating, diversion of funds, submission of fake or forged documents by different defaulting firms while obtaining loans or credit facilities. There have been allegations that such firms have been turning defaulters resulting into the loans becoming Non Performing Assets, thus causing heavy loss to the public sector banks.

Sources : News on AIR