CBI probes Rs 1000 crore alleged fraud in Syndicate Bank

NEW DELHI The Central Bureau of Investigation on Tuesday carried out raids at 10 locations in connection with alleged fraud of Rs 1000 crore in Syndicate Bank.

"The CBI is searching 10 locations that include bank branches and homes of bank employees," said CBI spokeswoman Devpreet Singh.

The alleged fraud includes the use of fake bills and providing overdraft limits against non-existent life insurance policies, Devpreet Singh said.

The raids are being conducted in Jaipur, Udaipur and Delhi.

(With inputs from Reuters)