According to the reports, Income tax department conducted the second round of survey at the Chandni Chowk branch of Axis Bank where it was discovered 44 fake records came into the sight on Friday.
If reports are to be believed the bank purportedly did not abide the norms of KYC standards which were set by the RBI. Currently, the police are investigating into the matter.
Authorities told that since the demonetisation has come into being over Rs 450 crores has been kept in these records.
I-T official said in a statement, “Rs 100 crores in old notes was deposited in these accounts since November 8”.
Officials said, “The department is checking the records of the bank as part of a survey operation. There are some instances under scanner where huge deposits have been made post the currency sharp and that is being probed”.
Axis bank’s spokesperson said in a statement, “Axis Bank is committed to following highest standards of corporate governance & has zero tolerance towards any deviation on part of any of its employees from the set model code of conduct. Strict action will be taken against any employee found deviating from the guidelines. We would also like to add that we are cooperating with the investigating agencies”.
Regardless to this, Prime Minister Narendra Modi had before pleading individuals to not to receive cash from others to store in their account, if the individuals who constrain them to do as such would confront outcome.