New Delhi: The Central Bureau of Investigation (CBI) and the Enforcement Directorate ( ED) on Saturday conducted a joint raid of a north Delhi branch of the Bank of Baroda in connection with an alleged foreign exchange act violation worth over Rs.6,000 crores.
The transfer of the money was made to Hong Kong, as per preliminary investigations between August 1, 2014 and August 12, 2015. It is being alleged that there were 8,667 forex transactions from the Ashok Vihar branch of the bank, prompting a probe.
An internal investigation by the bank revealed that the transactions did not trigger alerts such as the generation of an exceptional transaction report.
The Congress has asked Prime Minister Narendra Modi to come clean on the black money issue and asked him to explain why a formal police complaint was not filed against the alleged errant bank officials.
“The prime minister claims in Bihar that during his 18-month-rule, his government can’t be charged with corruption. But at the same time, a bank in Delhi transfers 6,172 crores abroad without any proper documentation, which indicates that their claims are hollow. Why is there no FIR filed in the case?” asked Congress leader and former minister of state for home R.P.N Singh.
“On one side, the government claims that it has brought 4,000 crores back as black money, but on the other side, the Bank of Baroda has transferred Rs. 6,172 crores to Hong Kong in the names of 59 companies, all of them registered on wrong addresses,” he added.