44 Fake Accounts With 100 Cr Found in Delhi Axis Bank Raid

The Income Tax Department (IT) on Friday raided an Axis Bank account in Chandni Chowk, Central Delhi's and reportedly found about 44 fak...

The Income Tax Department (IT) on Friday raided an Axis Bank account in Chandni Chowk, Central Delhi's and reportedly found about 44 fake accounts. According to the National Media IT officials said that about INR 100 Crores in old notes had been deposited in the accounts since November 8th i.e date of the announcement of demonetisation b y PM Narendra Modi. According to Media reports, a sum of total INR 450 Crores have been deposited in the Chandni Chowk Branch of Axis Bank since the ban was announced.

The IT officials said to the NDTV that these 44 fake accounts had been created by using forged documents, the investigators surmise that the money might have been dispel to buy gold. This was the second as such raid to have been reported at a branch of Axis Bank. Earlier in the last month IT officials had nabbed two people with INR 3.5 Crores of cash in new currency notes while they tried to come out of the Kashmere Gate branch, Central Delhi. Following the announcement of demonetisation scheme by the Prime Minister Narendra Modi on November 8th, the RBI had put palpable strict diminution regarding the sacking of the now extinct INR 500 and INR 1000 notes in bank accounts until December 30th.