Officials said the Central Bureau of Investigation (CBI) conducted nationwide searches at 100 locations on Thursday in various suspected bank fraud cases totaling over Rs 3,700 crore.
According to them, the organized search activity took place in 11 states and involved 30 FIRs linked to bank theft.
“These searches are part of a targeted effort to apprehend fraudsters based on allegations obtained from India’s nationalized banks. Indian Overseas Bank, Union Bank of India, Bank of Baroda, Punjab National Bank, State Bank of India, IDBI, Canara Bank, Indian Bank, and Central Bank of India are among the complainant banks “R C Joshi, a spokesperson for the CBI, said
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 was among the locations scanned.
“It should be noted that the CBI has been receiving a variety of complaints from various banks alleging cheating, theft of funds, and submission of fake/forged documents by various defaulting companies while accessing loans/credit facilities, among other things,” Joshi said.
The CBI also stated that it was receiving allegations that certain companies were becoming defaulters, forcing loans to become Non-Performing Assets (NPAs) and causing significant losses to public sector banks.
“The CBI records the cases until they have been thoroughly investigated. A thorough inquiry is conducted in order to bring the perpetrators to justice, prosecute them, and attempt to recover public funds “Joshi stated.
“It may be stated that CBI has been receiving a number of complaints from various banks alleging cheating, diversion of funds, submission of fake/forged documents by different defaulting firms while obtaining loans/credit facilities, etc. There have been allegations that such firms have been turning defaulters resulting in the loans becoming Non Performing Assets(NPAs), thus causing heavy loss to the public sector banks,” CBI stated.
“After scrutiny, the cases are registered by CBI. A thorough investigation is carried out in order to book the culprits, take them to face the law, and endeavor to salvage public money,” the probe agency further mentioned.
