Second Axis Bank branch raided, 44 accounts fake

New Delhi: I-T sleuths on Friday held raids on a second branch of private bank Axis bank to probe money laundering post demonetisation of old currency notes.

Sources said, I-T has found 44 fake accounts in which allegedly around Rs 100 crore in old notes were deposited after demonetisation announcement. These accounts were allegedly opened by submitting  fake KYC documents. I-T is questioning branch officials  about these accounts. Sources said Rs 450 crores have been deposited in this branch since November 8.