CBI registers corruption case against former CMD of UBI

CBI has registered a case of alleged corruption against the then Chairman-cum-Managing Director of United Bank of India (UBI) Archana Bhargava and two companies. During searches, CBI has recovered cash, jewellery and investment details to the tune of over Rs 10 crore which are allegedly in her and her family members’ name, CBI Spokesperson said here on Thursday. “It was alleged that the then public servant while posted as ED of Canara Bank in the year 2011 and as CMD of United Bank of India in the year 2013 had abused her official position and obtained certain amounts for herself or for a New Delhi based private firm (owned by her husband and her son), from the companies to whom various credit facilities were granted by the banks, where she had worked,” the spokesperson said  She said searches conducted at the residential premises of accused persons in Delhi, Noida, Mumbai, Kolkata and Howrah led to the recovery of jewellery worth Rs 2.85 crore and Rs 10.50 lakh cash from the bank lockers in her name and her family members.