Bhopal: Katni SP probing Rs 500cr Axis Bank scam transferred

Bhopal: Katni SP probing Rs 500cr Axis Bank scam transferred

Staff ReporterUpdated: Thursday, May 30, 2019, 10:04 AM IST
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BHOPAL: SP Katni, Gaurav Tiwari, who was probing the Rs-500cr Axis Bank scam, has been given fresh postings. He is among 17 IPS officers who have been transferred. A probe into the massive post-demonetisation irregularities in the Katni branch of Axis Bank had revealed the involvement of a minister in the scam. The matter was being probed by Tiwari, who has now been transferred to Chhindwara.  More than 300 businessmen hailing from several states were involved in irregularities related to replacing old high-denomination notes at the bank and hawala transactions. The matter came to light after a cash transfer racket, which carried out transactions with several banks, was busted. Most bank accounts through which suspicious transactions were made were with Katni’s Axis Bank branch. IT sleuths had conducted raid at the branch on December 21 last year. The bank officials had replaced scrapped high-denomination notes in amounts more than the prescribed limit without obtaining identity proofs.

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