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Delhi: I-T dept raids Axis bank branch, finds 44 fake accounts with Rs 100 cr

New Delhi: Income Tax officials on Friday raided an Axis Bank branch in the national capital and identified at least 44 fake bank accounts. According to reports, the accounts did not follow KYC norms and old notes worth Rs 100 crore were deposited in them.

The raid was carried out at the Chandni Chowk branch of the bank. Axis bank officials are being interrogated in the matter.

According to reports, a total of Rs 450 crore had been deposited in the branch since November 8, the day when Prime Minister Narendra Modi had announced the demonetisation of Rs 500 and Rs 1000 notes.