These searches are part of a special campaign against scammers, CBI said (Archive)
Reflexes
- The search operation was linked to 30 cases linked to bank fraud
- The searches are part of a special campaign to screen scammers, CBI said.
- The CBI has been receiving a number of complaints from various banks.
New Delhi:
The Central Bureau of Investigation (CBI) on Thursday carried out nationwide searches at 100 locations in separate cases of suspected bank fraud of more than Rs 3.7 billion, authorities said.
The coordinated search operation spanned 11 states and was related to 30 bank fraud cases, they said.
“These searches are part of a special campaign to register scammers about complaints received from different nationalized banks in India. Reporting banks include Indian Overseas 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, “said CBI spokesman RC Joshi.
Searches spread to Kanpur, Delhi, Ghaziabad, Mathura, Noida, Gurgaon, Chennai, Thiruvarur, Vellore, Tiruppur, Bengaluru, Guntur, Hyderabad, Ballari, Vadodara, Kolkata, West Godavari, Surat, Mumbai, Bhopal, Nimakhai, Tirupai , Ahmedabad, Rajkot, Karnal, Jaipur and Sri Ganganagar.
“It can be stated that the CBI has been receiving a series of complaints from various banks alleging fraud, diversion of funds, presentation of false / falsified documents by different defaulted companies while obtaining loans / credit facilities, etc.” Joshi said.
The CBI added that it was receiving accusations that such companies have become delinquent, which has resulted in the loans being converted to Non-Performing Assets (NPAs), causing large losses to public sector banks.
“After scrutiny, CBI records the cases. A thorough investigation is carried out to register the culprits, bring them to face the law and try to save public money,” Joshi said.
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