he Central Bureau of Investigation (CBI) is examining a report prepared by the Central Vigilance Commission (CVC) on the alleged irregularities in the sanction of loans and tender procedures by Mangalore-based public sector Corporation Bank, a source said.
The CVC had forwarded its report to CBI a week ago. Speaking to IANS on the telephone from Delhi, a CBI source said: "The reference was made to CBI by CVC a week back. The report is being studied."
According to him, the agency will verify the findings stated in the report and if there is credible evidence, then a case will be registered and investigations would begin.
Perhaps for the first time in India's banking history, the CVC has conducted a probe based on a whistleblower's complaint about alleged irregularities in sanction of loans and issuance of tenders at the Corporation Bank.
Many bank employees are involved in illegal transfer of money of a particular person to some unknown person's account. Some employees are also involved in false currency business, paying loans to fake identity person and forgery.
