Shares in Bank of Baroda fell as much as 5% after reports that of the bank being involved in illegal Rs 6,172 crores in foreign exchange, made to Hong Kong through newly-opened accounts in the bank's Ashok Vihar branch.
According to PTI report CBI teams on Sunday swooped down at 50 locations in Delhi in connection with its probe into alleged spurious transactions of Rs 6,000 crore to Hong Kong from a Bank of Baroda branch in the garb of purported payments of "non-existent" imports.
CBI sources said agency has found that Ashok Vihar branch of the bank was a relatively new one which has got the permission to entertain forex transactions only in 2013.
With inputs from PTI
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