Kotak Mahindra Bank came under the radar on Friday when the Income Tax Department questioned the Manager of its Kasturba Gandhi Marg branch in connection with two of their customer's accounts.
"I-T department has visited the bank's branch in connection with survey of two of its customers and their related accounts," said Rohit Rao, official spokesperson, Kotak Mahindra Bank.
"No KYC deficiencies were noted in these two customers. The IT department did question the Branch Manager and no adverse report has been submitted to the bank so far," he added.
According to Rao, the bank has regularly been filing necessary reports with the Financial Intelligence Unit (FIU) for all large transactions. It denies any existence of fake accounts and is willing to cooperate with the investigating authorities.
This news comes days after the I-T department and Enforcement Directorate detected illegal activities in Axis bank's Noida branch where 50 accounts and 24 employees were suspended for suspicious activities and its Ahemdabad branch where 19 accounts with over Rs 89 crore were scrutinised.