44 fake accounts with ?100 crore found in Axis Bank branch
Income Tax officials have allegedly discovered 44 fake bank accounts in raids conducted on an Axis Bank's branch in Chandni Chowk, New Delhi. The fake accounts were created using forged documents and demonetised currency worth ?100 crore was deposited in them since PM Narendra Modi's demonetisation announcement. This is the fourth instance of fraudulent activity involving Axis Bank.
In fresh trouble for Axis Bank, income tax officers allegedly discovered 44 fake bank accounts holding around Rs 100 crore, in raids conducted on its branch in Delhi's Chandni Chowk.The fake accounts were created using forged documents and demonetised currency worth Rs 100 crore was deposited in them since PM Modi's November 8 announcement. A total of Rs 450 crore has been deposited in the particular branch since the ban on Rs 500 and Rs 1,000 notes was announced.Responding to the latest allegations, Axis Bank spokesperson said, "The bank is committed to following the highest standards of corporate governance and has zero tolerance towards any deviation on the part of any of its employees from the set model code of conduct. Strict action will be taken against any employee found deviating from the guideline . We would also like to add that we are cooperating with the investigating agencies." This is the fourth instance of fraudulent activity involving Axis Bank officials.#1 Last month, IT officials caught two people with coming out of its Kashmere Gate branch in Delhi Rs 3.5 crore in new notes.#2 Early this week, the Enforcement Directorate arrested two managers of the Kashmere Gate branch for converting Rs 40 crore black money into white. Both allegedly received 3 kg gold bars as bribe for the conversion. Then, two days ago, officials arrested a chartered accountant, who was the alleged mastermind of the scam. The CA "used the identity documents of various person to form shell companies" through which cash deposits worth Rs 40 crore were made between November 10 and 22.