CBI conducts searches at over 100 locations across 11 states in cases of bank fraud amounting to Rs 3700 crore

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The Central Bureau of Investigation (CBI) Thursday conducted searches at more than 100 places across India in connection with more than 30 cases of bank fraud amounting to over Rs 3700 crore. These searches are part of a special drive to book the fraudsters on the complaints received from different Nationalised Banks in India.  The complainant 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, the probe agency said. 

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

During searches, various incriminating documents and other material/digital evidences have been recovered, the CBI said. 

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

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