Bengal Infra FD certificates fake, says UCO Bank

UCO Bank said on Saturday that the West Bengal Infrastructure Development Corporation (WBIDFC) did not have any current or term deposit account with the Circus Avenue branch of the bank in the city, which allegedly submitted rate quotation for bulk deposits to the corporation. On a complaint by the State Government unit, the Kolkata police had on Thursday arrested the branch manager of the bank. 

WBIDFC had alleged that a large part of the Rs 120 crore fixed deposits were found missing on Wednesday. In a statement, the Kolkata circle of the bank said the fixed deposit certificates, as claimed by WBIDFC, were “fake”. “At no point of time, has the said bank branch issued any deposit certificate” to WBIDFC, it said. “In addition, the branch has not submitted to the organisation (WBIDFC) any rate quotation for accepting bulk deposits.”“We have requested the investigating agencies to look into the matter,” the statement added.


Source: thehindubusinessline