Finance Minister Arun Jaitley on Thursday said the magnitude of the alleged black money transfer through state-owned Bank of Baroda (BoB) will only be known after completion of the multi-disciplinary probe.
“It’s a matter of investigation and it is some unscrupulous people who have managed to beat the system,” Jaitley said when asked if he expects involvement of more banks in this issue.
“Now you have CBI investigating, you have ED investigating, you have SFIO investigating, you have tax people looking into it. So, once these investigative agencies form a prima facie opinion, its only then the magnitude, the nature and the kind of people involved in it will become clear,” he told CNBC TV18.
last week, CBI and the Enforcement Directorate started investigating the matter. It is alleged that Rs 6,172 crore black money was remitted from Bank of Baroda to Hong Kong which was passed off as payments for non-existent imports like cashew, pulses and rice.