Income Tax sleuths have conducted raid at Axis Bank in Delhi's Chandni Chowk. About Rs. 100 crore in old notes have been reportedly deposited in 44 fake accounts since November 8, when Prime Minister Narendra Modi announced demonetization of 500 and 1000 rupee notes.
A total 450 crores have been deposited in the bank since Nov 8th. The 44 fake accounts had been created using forged documents and investigators suspect that the money may have been moved to buy gold. Bank officials are being questioned in connection with these accounts.
This is the second raid since the notes ban at an Axis Bank branch in Delhi. Last month, IT officials had caught two people with 3.5 crore in new currency as they came out of the Kashmere Gate branch of the bank, also in central Delhi.
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