Noida: I-T dept raids Axis Bank branch, finds accounts of fake firms with Rs 60 cr

Noida: The Income Tax Department raided on Thursday raided a branch of Axis Bank in Noida and found that 20 fake firms had parked over Rs 60 crore in the bank.

This is the third time that a branch of the bank has been raided by I-T sleuths. Only last week, the department had found 44 fake accounts in one of its Delhi branches, were around Rs 100 crore in old notes were deposited after demonetisation announcement.

The accounts were allegedly opened by submitting fake KYC documents.