After Axis bank, Kotak Mahindra bank under IT scanner
Kotak Mahindra Bank�s spokesperson said that the I-T department did visit its KG Marg branch to investigate two of its customers and had questioned the branch manager.
Days after Axis Bank has been under scanner of Income Tax officials for fake accounts, Kotak Mahindra bank has joined the list.
According to the reports, Kotak Mahindra bank came under the Income Tax scanner on Friday with several fake accounts emerging.
It has been reported that the fake accounts worth Rs 70 crore were found in the Kasturba Gandhi Marg branch in New Delhi. The accounts were in the name of Ramesh Chand and Raj Kumar.
However, the bank has denied the existence of fake accounts and said that these two people had filed their necessary Know Your Customer (KYC) papers.
Rohit Rao, Kotak Mahindra Bank’s spokesperson reportedly said that the I-T department did visit its KG Marg branch to investigate two of its customers and had questioned the branch manager.
Rao added that there was no submission of any adverse report to the bank and the bank fully denied that the existence of any fake accounts. Although the bank was extending full cooperation to the investigating agencies, he added.
Earlier this month, the I-T department had raided an Axis Bank branch in Central Delhi’s Chandni Chowk and reportedly found out about 44 fake accounts. According to reports, I-T officials had said that about Rs 100 crore in old notes had been deposited in the accounts since November 8, the date of the announcement of demonetisation by Prime Minister Narendra Modi with an objective to curb down the flow of black money in the country.
According to reports, a sum total of Rs 450 crores have been deposited in the Chandni Chowk Branch of the Axis Bank since the ban was announced, I-T officials added.