CBI REGISTERS A CASE AGAINST AN OFFICIAL OF STATE BANK OF HYDERABAD FOR AN ALLEGED VIOLATION OF RBI GUIDELINES AND CONDUCTS SEARCH

Press Release
New Delhi, 06.04.2017

      The Central Bureau of Investigation has registered a case  u/s.120B r/w 409, 420, & 477A  of IPC and 13(2) r/w 13(1)(d) of PC Act 1988 against a Head Cashier, State Bank of Hyderabad, Nehru Gunj Branch, Kalaburagi (Karnataka) & unknown private persons. It was alleged that the Head Cashier entered into a criminal conspiracy with unknown private persons and fraudulently facilitated & exchanged the demonetized currency with legal tender currency notes to the tune of Rs.109.00 lakh (approx) during the period 10.11.2016 to 30.11.2016 by using the SWAP methodology and has violated the guidelines issued by RBI to exchange of SBNs with legal tender.

            Searches were conducted at the residence of accused at Kotnoor, Gulbarga which led to recovery of incriminating documents.


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