CBI conducts raids on residences of bank employees in Hyderabad

The officials of Central Bureau of Investigation (CBI) are conducting searches in the residences of six senior bank officials in a bank loan fraud case.

The searches are going on at six places at a time by multiple teams. According to sources the searches are also going on at Mysore and Bengaluru.

The officials allegedly took Rs 16 crore rupees as bank loans on the name of persons who are not existing and submitted the fake documents and have withdrawn the amount later by colluding with other persons. More details awaited.