Another irregularity found in Axis Bank branch,Rs 60 crore seized

Gautam Budh Nagar (Noida): In yet another irregularity found in another branch of Axis Bank, the Income Tax authorities have unearth 20 fake accounts in which Rs 60 crore was found deposited after demonetisation announcement on November 8 last.

The IT officials raided Sector 51 branch of Axis Bank in Uttar Pradesh on Thursday where this gross irregularity was detected. The fake accounts were opened by a jeweller who sold a gold brick worth Rs 100 crore and deposited Rs 60 crore in different accounts to show it as white.

Also read: Last day to use your old five hundred rupee note…!

Earlier in Lucknow, two Axis Bank officials were arrested on similar charges prompting authorities to put the bank under scanner. Meanwhile, the Managing Director and CEO of Axis Bank Shikha Sharma had expressed dismay over the undoings of some bank officials and stated that all the bank employees worked hard since November 8 except this aberration by a couple of employees.

The raiding party removed the crowd of customers and started interrogating the bank manager and auditing the bank accounts. The follow up action by the IT officials would be known later.

Also read: Australia follows India; plans to demonetise $100 note