Massive CBI search operation in Rajasthan, Maharashtra
New Delhi: The Central Bureau of Investigation (CBI) has intensified its probe into a case involving suspicious Immediate Payment Service (IMPS) transactions amounting to Rs. 820 crore across multiple UCO Bank accounts.
The investigation has led to extensive search operations at 67 locations in seven cities of Rajasthan and Maharashtra, the officials informed on Thursday.
The CBI initiated the search operations based on a complaint lodged by UCO Bank, which alleged that between November 10, 2023, and November 13, 2023, IMPS inward transactions from around 14,600 account holders of seven private banks were erroneously credited to over 41,000 UCO Bank accounts. This resulted in the wrongful crediting of Rs. 820 crore to UCO Bank accounts without the corresponding debiting from the originating banks. Subsequently, several account holders took advantage of this situation to withdraw funds through various banking channels, resulting in substantial wrongful gains.
Following a case filed in November 2023 and previous searches in Kolkata and Mangalore in December 2023, the CBI expanded its investigation with extensive search operations on March 6, 2024. Carried out in Rajasthan and Pune, Maharashtra, the raids uncovered 130 incriminating documents linked to UCO Bank and IDFC. Additionally, 43 digital devices, including 40 mobile phones, 2 hard disks, and 1 internet dongle, were seized for forensic examination.
