Officers of the Income Tax Department have discovered that the Chandi Chowk branch of Axis Bank in New Delhi has 44 fake accounts where about ₹100 crore worth of old notes have been deposited since the demonetisation of ₹500 and ₹1000 notes were announced on November 8.
The accounts in question are all fake created with forged documents and the money is suspected to have been routed to buy bullions.
This has raised suspicion that Axis Bank staff may have been in the know how and may have helped creating these accounts.
This is the second raid on Axis Bank in Delhi. Last month at a raid in Kashmere Gate, Income Tax officers had caught two people with ₹3.5 crore in new notes. Bank managers allegedly were bribed.
The CBI has also recently arrested the deputy manager of an Axis Bank branch in Kolkata recently for allegedly converting black money through bogus accounts.
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