Finance Ministry wants CBI to fast-track BoB fraud case

The Finance Ministry wants the Central Bureau of Investigation (CBI) to expeditiously complete the probe in the alleged funds transfer case of Bank of Baroda (BoB) so that the offenders could be brought to the book and the exact amount in the fraud is known. “We want the CBI to complete the probe expeditiously. As of now, we don’t know whether the amount involved is Rs 6,000 crore,” a top ministry official said. Last week, the CBI and the Enforcement Directorate (ED) started <g data-gr-id="17">investigation</g> in the matter. It is alleged that Rs 6,172 crore black money was remitted from BoB to Hong Kong camouflaged as payments for non-existent imports like cashew, <g data-gr-id="46">pulses</g> and rice. It is also alleged that amount was deposited in 59 accounts of the bank’s Ashok Vihar branch (New Delhi) in cash as <g data-gr-id="43">advance</g> for import and the money was sent to some select companies in Hong Kong.