The Enforcement Directorate has launched probe into the alleged fraud in the IDBI-Rajamahendravaram branch in connection with the processing and sanctioning of short term loans under the Kisan Credit Card to farmers for construction of aqua ponds.
According to an official release, the ED has also conducted the searches in the six locations in Andhra Pradesh and Telangana States in the Rs. 311 crore fraud on November 29.
The ED has seized the electronic devices from the accused during the searches. The investigation is on.
