Demonetization: 44 Fake Accounts With Rs. 100 Crore Found In Raids On Delhi Axis Bank Branch

The Income Tax department on Friday, December 2016 has seized the 44 fake accounts at a branch of Axis Bank in central Delhi’s Chandni Chowk. According to the reports by the Income Tax department, in a surprising raid in the same branch, they have seized around Rs. 100 crores from the branch. The officials revealed that the whole sum of Rs. 100 crores were deposited to the 44 fake account in the branch of Axis Bank in central Delhi’s Chandni Chowk after November 8, 2016, when Prime Minister Narendra Modi announced the demonisation of Rs. 500 and Rs. 1000 notes from every corner of the India.


The further reports also suggest that the same branch has the total sum of Rs. 450 crores and out of that 100 crores in old notes of Rs. 500 and Rs. 1000 were illegally deposited in the 44 fake account. The fake accounts were created with the help of fake documents and other necessary things.

Meanwhile, this is not the first time when the Income Tax department has organised the raid on the axis bank in Delhi as last month; the Income Tax Department caught two people with 3.5 crores in new currency as they came out of the Kashmere Gate branch of the bank, also in central Delhi. And, they arrested two branch manager of the Axis Bank for converting the black money into the white money.

It is believed that this money was taken in order to purchase the gold from the market. Prime Minister, Narendra Modi has announced that one people can only submit of money around 2.5 lakhs and on the transfer of above 2.5 lakhs an individual have to give the proof and have to pay the fine over it.

  • Suraj Parkash

    Demonetization. Forget hoarders, India’s bankers are the real traitors

    for whom this has come as long wished Windfall from Gods ahead.

    The culprit employees of banks have looted the public by converting black money into fresh currency in crores at hundreds of places, scores of banks, what about a past player, a cashier in State Bank of Patiala at Saha in Ambala who has long since been repeatedly complained at the highest levels, for indulging in fake currency but there stock reply is nothing is found, with out even a copy of the culprits statements, or any single contact with the complainants, or even any transparency when the information is sought at various levels of RTI, First Appeal, and second appeal. and now pending with the highest level in State Bank of Patiala for last 5 months. Even copy of the investigations claimed rport are stupendously withheld by State Bank of Patiala, obviously because the culprit is sharing part of his monetary loot with his seniors. A bank employee just above a LDC clerk, this cashier owns a palatial house, owns three cars, and have stacks of unaccounted assets in his palatial 600 sq mt levish residence, every day heavy drinker. Now of course, being a careful, he has distributed ill gotten currency notes with relatives in his Ambala and else where, but simple investigation, crores of currency notes shall be dug out. Why not carry out with a decoy customer, but during these times, simple one time sting operation attempt need not be successful, otherwise such notes stacked at his many hide outs, bank lockers etc will reveal every thing, including abuse of Jan Dhan accounts, free huge distributions of fresh currencies to many for outright monetary contributions. He claims the bank demonitisation has come as a wind fall to bank employees, collectively engaged at least in Saha branch of Bank of Patiala.

    abusing every launa in force for normal honest convenients for customeers, including obtaining defunctcurrency to prepare drafts, get them cancelled and paying back infresh currency, and long listof now officially claimed 8deadly ways to bleed the country as traitors much much worse than publicly acclaimed enemy, Pakistan for personal enrichment of bank employees fully protected by their senior officers, the chain where the ill gotten wealth percolates..

    Suraj Parkash