Nagpur : In a major financial crackdown, the Income Tax Department’s Intelligence and Criminal Investigation (I&CI) wing has uncovered suspicious transactions worth over ₹1,500 crore routed through 22,550 bank accounts in Nagpur. The probe has revealed the involvement of three cooperative banks — two based in Nagpur and one from outside the city.

The investigation exposed more than 400 cases of deposits and withdrawals exceeding ₹50 lakh and around 150 cases involving fixed deposits above ₹10 lakh . Shockingly, over 20,000 accounts received annual interest payments above ₹2 lakh , but no details of these payments were reported to the tax authorities.

The Modus Operandi

During the scrutiny of cooperative banks’ financial records, the department discovered nearly ₹200 crore worth

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