The Central Bureau of Investigation has today conducted searches at 32 places including the Administrative Office & 17 branches of a Maharashtra based Co-operative Bank Ltd., and the residential premises of the accused persons at Pune, Baramati and Lonavala(Maharashtra) in an on-going investigation of a case relating to alleged exchange of demonetized currency notes. Incriminating documents recovered during searches are being scrutinized.
CBI registered a case against nine officers/officials of a Co-operative Bank Ltd., Pune and others. It was alleged that after the announcement of demonetization by the Government of India on 08.11.2016, accused officers/officials in conspiracy with each other, exchanged the demonetized General Currency Notes of Rs.1000/- and Rs.500/- denomination amounting to Rs. 40 Lakh(approx) with an equivalent amount of General Currency Notes of Rs.100 and Rs.50, which were collected from different Branches of the said Co-operative Bank Ltd. It was also alleged that the accused replaced the Original Small Cash Books (Cash Summary Books) of Administrative Office and Branches of the Bank, with new manipulated Small Cash Books containing the false entries with respect to various denominations of General Currency Notes of Rs.1000/- & Rs.500/- and Rs.100/- & Rs.50/- denominations to accommodate the exchange of demonetized currency done so, in gross violation of Banking rules and regulations.