India’s Central Bureau of Investigation has registered 42 new cases of bank fraud totalling around INR72bn ($1.02bn) after conducting searches in 187 places across the country.
The mainly loan fraud cases were detected at 15 banks, including State Bank of India, according to a statement by the Central Bureau of Investigation on 5 November.
The regions covered Andhra Pradesh, Chandigarh, Delhi, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Punjab, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, Dadra & Nagar Haveli.
The banks involved (including consortium members) are Andhra Bank, Oriental Bank of Commerce, Indian Overseas Bank, State Bank of India, Allahabad Bank, Canara Bank, Dena Bank, Punjab & Sind Bank, Punjab National Bank, Central Bank of India, Union Bank of India, IDBI Bank, Bank of Baroda, Bank of Maharashtra and Bank of India.
The places being searched are in Delhi, Gurgaon, Chandigarh, Ludhiana, Dehradun, Noida, Baramati, Mumbai, Thane, Silvassa, Kalyan, Amritsar, Faridabad, Bengaluru, Tirupur, Chennai, Madurai, Quilon, Cochin, Bhavnagar, Surat, Ahmedabad, Kanpur, Ghaziabad, Varanasi, Chandauli, Bhatinda, Gurdaspur, Morena, Kolkata, Patna, Krishna, Hyderabad and Bhopal.
Four of the 42 cases involved more than INR10bn each.
“During searches, incriminating documents have been recovered so far. Searches are still in progress”, it said.
