IT department raids on Axis Bank branch in Noida discovers 20 fake accounts; Rs 60 crore seized in new currency

Written by | December 15, 2016 | 0

New Delhi: Central government on 8th November 2016 took the decision of demonetization in order to fight against corruption, black money and terrorism.

Since than many crackdowns by investigation agencies took place in various parts of country in which crores of rupees are already ceased and many officials of banks, lawyers and politicians of local level are arrested allegedly for converting black money into white in several steps.

Like to tell you that, Income Tax Department officials on Thursday raided an Axis bank in Noida sector 51 and reportedly found out accounts belonging to 20 fake companies. According to sources, over Rs 60 crore was deposited in those accounts.

Sources said systematic deposits were made into these accounts that had been opened in the names of low-income workers and labourers. The accounts came to the notice of the I-T department when a jeweller in Noida sold gold worth Rs 600 crores after the November 8 demonetisation announcement, and deposited the money he got at the Noida branch.

This came days after raid was conducted at an Axis Bank branch in Delhi’s Chandni Chowk. Also earlier on November 25, Income Tax department had raided the Kashmere Gate branch of Axis Bank in Delhi. More than 40 fake accounts with over Rs 100 crore unaccounted money were allegedly found during the raid. Officials found that multiple accounts were used to convert old currency after November 8.

A large number of account holders had gathered outside the bank. A police team is also deployed outside the Axis ban branch in order to keep situation under control.

Therefore Enforcement Directorate officials had arrested two Axis Bank officials in relation to the case. Axis bank also suspended 19 officers for their involvement in illegal activities since demonetisation.

Since demonetisation, Axis bank is found to be more involved in converting black money into white through various ways. Meanwhile, IT department continuing with the raids on various other institutions, banks and jewellery shops etc.

Like to tell you that, everyday crores of rupees are being ceased which are illegally turned into white. Government and investigation agencies are playing major role in order to finish the corruption from country.

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