Tribune News Service
New Delhi, November 25
The Income Tax department raided the Kashmere Gate branch of Axis Bank after two persons were held with new notes worth Rs 3.5 crore. Searches are being conducted at official and residential premises of two managers of the bank.
Sources said that amid demonetisation of Rs 500 and Rs 1,000 notes, the Income Tax department today raided the Kashmere Gate branch of the bank. This was confirmed by its public relations section.
The raids were conducted after two people were held with new notes.
Without disclosing names of the bank officials, according to the sources, a senior official of the bank allegedly took commission in gold.
"The deposits were made in the existing accounts of our customer at Kashmere Gate branch. The bank is investigating the matter in detail and is fully cooperating with the agency concerned," said a spokesperson of the bank.
Unlock Exclusive Insights with The Tribune Premium
Take your experience further with Premium access.
Thought-provoking Opinions, Expert Analysis, In-depth Insights and other Member Only Benefits
Already a Member? Sign In Now
