The CBI has registered a case against a senior officer of public sector Bank of Baroda and some others for violating the RBI guidelines and allegedly converting Rs 6. 5 crore demonetised currency notes into new notes, an official said on Friday.
The official said a Chief Manager of the Bank of Baroda, posted at Mandoli branch near Nand Nagari in east Delhi, conspired with a private person residing in nearby Ashok Nagar area and some other unidentified persons for exchanging the money.
"It was also alleged that the manager converted the Rs 6. 5 crore black money into white by using different bank accounts and violated the rules and regulations of Reserve Bank of India (RBI), " Central Bureau of Investigation (CBI) spokesperson R. K. Gaur said.
Earlier, a joint surprise check was conducted by the CBI, along with vigilance officials of the Bank of Baroda at the Mandoli branch, where huge deposits in several accounts were found, the official said.
"These accounts had seen negligible balances before the announcement of demonetisation, whereas towards the end of the demonetisation period, there were huge balances in such accounts.
Many of such accounts were found to be non - KYC (Know Your Customer) - compliant, too, " he said.
The CBI team also conducted searches at the premises of the bank manager and recovered Rs 1. 60 lakh in cash, mostly in new denomination currency, jewellery worth Rs 6. 50 lakh and documents pertaining to investment in life insurance policies, fixed deposits and others in the name of the accused and his family members.
"A locker has also been found, " the official added.
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