UBI says no rules violated

State-owned Union Bank of India on Tuesday said it followed all norms while accepting the Rs 982-crore deposits from an alleged frontman of Madhu Koda, former chief minister of Jharkhand, who is facing charges of money laundering.

The bank conducted an additional audit after the scam broke and did not find any discrepancy in the transaction, a senior bank official said. "We did another round of audit and confirmed that the transaction was conducted after following all required norms. We had informed all concerned authorities while accepting this amount," the official said.