UCO Financial institution Rs 820cr IMPS rip-off: CBI raids 67 places throughout 7 cities

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NEW DELHI: The Central Bureau of Investigation (CBI) on Wednesday raided 67 places in seven cities of Rajasthan and Maharashtra as a part of its probe in reference to the Rs 820 crore IMPS rip-off linked to UCO Financial institution.The central company has been probing 8,53,049 IMPS (Speedy Fee System) transactions that came about between November 10 and November 13 final 12 months in UCO Financial institution.”IMPS inward transactions initiated from around 14,600 account holders of seven private banks were wrongfully posted in the accounts of over 41,000 UCO Bank account holders. This resulted in Rs 820 crore being credited to UCO Bank accounts without actual debiting from the originating banks,” the CBI spokesperson mentioned.The official mentioned searches in Rajasthan and Maharashtra targeted on those that obtained the cash or withdrew it fairly than returning it to the financial institution.”Earlier in December 2023, searches were conducted at 13 locations involving private individuals and UCO Bank officials in Kolkata and Mangalore,” the spokesperson mentioned.The CBI officers with the assistance of 330 police personnel, together with 120 from Rajasthan, performed the search unfold throughout cities like Jaipur, Jodhpur, Nagaur, Jalore, Barmer and Pune in Maharashtra. The personnel had been divided into 40 groups for the search that additionally had 80 unbiased witnesses.”During these operations, approximately 130 incriminating documents related to UCO Bank and IDFC, as well as 43 digital devices (including 40 mobile phones, 2 hard disks, and 1 internet dongle) were seized for forensic analysis.”Moreover, 30 suspects had been additionally discovered and examined on the spot,” the spokesperson mentioned.(With PTI inputs)

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