New Delhi: As probe agencies in India continue to grapple with banking fraud cases, the Central Bureau of Investigation (CBI) launched a massive crackdown across the country on Tuesday. “In a countrywide action relating to bank fraud scams and cases, CBI is conducting a special drive today and has begun searches at more than 50 places in 18 different cities in around 12 States and Union Territories," a CBI spokesperson in New Delhi said. The move comes a year after the Rs14,356-crore scam involving Punjab National Bank became the focus of both the CBI and the Enforcement Directorate (ED). Over 6,800 cases of bank fraud involving ₹71,500 crore have been reported in 2018-19, according to the Reserve Bank of India. While the CBI, in the course of Tuesday’s crackdown, has already filed 14 cases against the accused, “including various companies and firms, their promoters and directors and bank officials", the probe agency said “further details" would be furnished once it wraps up the drive.

Source: Mint July 02, 2019 06:24 UTC