The Central Bureau of Investigation (CBI) carried out nationwide searches at nearly 100 places they find fraud bank cases amount over Rs. 3700 crores, the officials said.
The search operation was spread across over 11 states and was related to 30 cases linked to bank frauds, they said. These searches are part of a special drive to book fraudsters on the complaints received from nationalised banks in India.
It stated that the CBI has been receiving a number of complaints from various banks alleged cheating, resubmission of fake documents, diversion of funds, by different defaulting firms while obtaining credit facilities etc.
And also the CBI added complaints receiving alleging that such firms have been turning defaulters, resulting in the loans becoming Non-Performing Assets causing heavy losses to the public sector banks. After that hearing the CBI registered a cases. The investigation is carried out and take them the culprits to faces the law and endeavour to salvage public money.