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    SBI denies searches by federal agency in 2G case

    State Bank of India, the country's top lender, on Wednesday denied a TV report the federal investigating agency was searching its offices in a case related to allocation of mobile phone licences.

    January 12, 2011 / 19:46 IST

    State Bank of India, the country's top lender, on Wednesday denied a TV report the federal investigating agency was searching its offices in a case related to allocation of mobile phone licences.


    ET NOW television channel had said the Central Bureau of Investigation was conducting searches in some offices of the SBI and other banks as part of the 2G mobile licence allocation probe.


    "Let me say that this comes as a total surprise to me and nobody has told me (about this)," SBI Chairman OP Bhatt told reporters, when asked about the TV report.


    Central Bureau of Investigation is not conducting searches at any bank related to the telecoms probe, two sources at the investigative agency told Reuters.


    "We have checked with our officers in different cities and there is nothing like this happening," one of the sources said, referring to the television report.


    The telecoms scandal has deadlocked politics in Asia's third largest economy after a state auditor estimated India may have lost USD 39 bn in revenue due to improprieties during the grant of licences.

    The telecoms ministry has said the process was likely flawed but rejected the loss estimate.

    first published: Jan 12, 2011 06:42 pm

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