CBI seized Rs 266 crores from Malappuram district Cooperative Bank

RBI, Bengaluru, note Exchange, denomination, Reserve Bank of India, Rs 1000, Rs 500

CBI raid carried out at the Malappuram District Cooperative Bank, a massive seizure amounting to nearly Rs 266 crore was made earlier today. It was found that the deposits were made in the bank without any valid documents.

During the raid, it was also discovered that the huge amount of money flowed into the bank between November 10 and 14.

Sources said the amount was deposited without any clear documents and it was needed to be certified whether it is blackmoney or not.

The CBI has asked the bank officials to submit  the details of all the account holders to it soon. It was also found that Bank was in violation of RBI rules while letting the customers deposit money.