The Central Bureau of Investigation (CBI) has conducted raids across 62 locations in Rajasthan and Maharashtra in connection with the suspicious IMPS transactions worth Rs 820 crore reported at UCO Bank.
On March 6, the CBI raided ‘extensive search operations’ in Rajasthan (including Jodhpur, Jaipur, Jalore, Nagaur, Barmer, Phalodi) and Pune (Maharashtra).
“During these operations, approximately 130 incriminating documents related to UCO Bank and IDFC, as well as 43 digital devices (including 40 mobile phones, 2 hard disks, and 1 internet dongle) were seized for forensic analysis,” the CBI said in a press release. Further, it examined 30 suspects on the spot.
The CBI had previously raided 13 locations in the case.The case was registered in late November 2023, on a complaint from UCO Bank. It has been alleged that between November 10 and 11, IMPS inward transactions from around 14,600 account holders of seven private banks were wrongfully posted in the accounts of over 41,000 UCO Bank account holders.
As a result, Rs 820 crore was credited to UCO Bank accounts without the money actually being debited from their originating banks.
“Numerous account holders have exploited this situation, making wrongful gains by withdrawing funds through various banking channels,” CBI said.
Earlier in December 2023, searches were conducted at 13 locations involving private individuals and UCO Bank officials in Kolkata and Mangaluru.
