100 CBI Searches Today Across 11 States In Bank Fraud Cases

New Delhi:

The Central Bureau of Investigation (CBI) on Thursday carried out nationwide searches at 100 areas in separate alleged financial institution fraud circumstances of over Rs 3,700 crore, officers stated.

The coordinated search operation was unfold throughout 11 states and was associated to 30 circumstances linked to financial institution frauds, they stated.

“These searches are a part of a particular drive to e-book fraudsters on the complaints acquired from completely different nationalised banks in India. The complainant banks embrace Indian Abroad Financial institution, Union Financial institution of India, Financial institution of Baroda, Punjab Nationwide Financial institution, State Financial institution of India, IDBI, Canara Financial institution, Indian Financial institution and Central Financial institution of India,” CBI spokesperson RC Joshi stated.

The searches have been unfold throughout 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.

“It might be said that the CBI has been receiving numerous complaints from varied banks alleging dishonest, diversion of funds, submission of faux/cast paperwork by completely different defaulting companies whereas acquiring loans/credit score services and many others,” Mr Joshi stated.

The CBI added it was receiving allegations that such companies have been turning defaulters, ensuing within the loans turning into Non-Performing Property (NPAs), thus inflicting heavy losses to the general public sector banks.

“After scrutiny, the circumstances are registered by CBI. Thorough investigation is carried out with the intention to e-book the culprits, take them to face the legislation and endeavour to salvage public cash,” Mr Joshi stated.