Bank Fraud
CBI raids over 100 locations countrywide in 30 cases of bank fraud
New Delhi/IBNS: The Central Bureau of Investigation (CBI) on Thursday raided over 100 locations across India in connection with more than 30 cases of bank fraud amounting to nearly Rs 3,700 crore reported by different public sector banks, media reports said.
The central probe agency launched the drive to book the fraudsters based on the complaint filed by PSBs, including State Bank of India, IDBI, Canara Bank, Indian Bank and Central Bank of India, Indian Overseas Bank, Union Bank of India, Bank of Baroda, Punjab National Bank.
The searches were spread across 11 states in cities Kanpur, Delhi, Ghaziabad, Mathura, Noida, Gurgaon, Chennai, Thiruvarur, Vellore, Tiruppur, Bengaluru, Guntur, Hyderabad, Ballari, Vadodara, Kolkata, West Godavari, Surat, Mumbai, Bhopal, Nimadi, Tirupati Visakhapatnam, Ahmedabad, Rajkot, Karnal, Jaipur and Sri Ganganagar.
CBI said it has been receiving complaints from several banks about cheating, diversion of funds, submission of fake/forged documents by different defaulting firms while obtaining loans/credit facilities etc.
Such firms have been defaulting on loan installments, turning the loans into Non-Performing Assets (NPAs), causing heavy losses to the public sector banks, CBI said.
"After scrutiny, the cases are registered by CBI. Thorough investigation is carried out in order to book the culprits, take them to face the law and endeavour to salvage public money,” the central probe agency was quoted as saying in the media.
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