Demonetisation violations: CBI FIRs against bank officials

The CBI has filed FIRs against two bank officials for allegedly allowing deposits of scrapped currency notes post demonetisation.
The CBI has filed an FIR against an official of Bank of Maharashtra for allegedly allowing deposits of scrapped currency notes totalling more than Rs 28 crore post demonetisation.
It is alleged that Rs 28.87 crore was deposited in new benami accounts at the bank's Ambawadi branch in Gujarat's Ahmedabad district after November 8, 2016 in violation of rules, CBI spokesperson R K Gaur said here today.
The CBI FIR alleged that the money was first moved into these benami accounts before being transferred through RTGS to another account.

Branch Manager Bharat Popat has been named as an accused in the FIR along with others. None of the accounts were KYC compliant.
The agency said it has also conducted searches at places in Ahmedabad which included office and residential premises of another bank official, leading to the recovery of incriminating documents.

The agency also registered a similar case of criminal conspiracy, cheating and corruption against the then Manager and Assistant Branch Head of UCO Bank at St Xavier's branch in Ahmedabad.
It is alleged that the branch manager, along with a private firm and shell company and other unknown persons, deposited huge demonetised notes amounting to around Rs 1.40 crore in the current account of a proprietor of the shell company with UCO Bank during demonetisation period.

Gaur said searches were conducted at three places in Ahmedabad in connection with the case.