The searches were carried out on Friday (June 5, 2026) as part of an ongoing probe into the alleged misappropriation of funds parked with IDFC First Bank and AU Finance Bank, an official statement said
After hearing arguments from both sides, the Mumbai court allowed the CBI's application to formally arrest the accused as per provisions of law.
An assessment of bank group-wise fraud cases over the last three years indicates that although number of frauds for public and private sector banks has reduced, amount involved has increased over the years, say RBI Report
The total quantum of the alleged loss suffered by banks and the Life Insurance Company (LIC) of India in these cases is ₹27,337 crore