Just a day after the Income tax department found 20 fake accounts of companies, in the Noida branch, the Income Tax department has reportedly found 12 fake accounts in Krishna Nagar branch of Axis Bank in Delhi.

According to ANI’s IT sources, was able to track these fake companies as black money holders had used several branches of Axis Bank to make transactions.

Yesterday, the Income Tax department who conducted a raid found over 20 fake company accounts in the Noida sector 51 branch of Axis Bank.  According to reports, a whooping amount of Rs 60 crore in these fake accounts.

That came just days after IT department found huge amount of money deposited in separate accounts in Axis Bank’s Chandni Chowk branch.

the CBI arrested a senior official from the Reserve Bank of India for helping touts convert the now banned Rs 500 and Rs 1000 currency notes in new notes in Bengaluru.

The Delhi High Court had recently extended the Police Custody of Axis Bank manager Vineet Gupta and sending another manager into 14-day judicial custody. Both the bank officials were arrested after they were accused to have been involved in the conversion of the old currency notes into the new ones.

They had allegedly helped the money hoarders to deposit over Rs.40 crore in multiple bank accounts and transfer funds online. The bank has suspended both the officials.

A number of other cases across the country have also popped up after the Income Tax department have gone ahead and seized unaccounted income in surprise raids post Prime Minister Narendra Modi’s decision to demonetise Rs 500 and Rs 1000 notes.