State Bank of India denies 2G investigations

The State Bank of India (SBI) has denied reports that its offices were being searched by a federal agency, following up a case in relation to mobile phone licence allocation.

The rumours began on Indian TV station ET NOW, which told viewers that the Central Bureau of Investigation (CBI) was conducting searches in some offices of the SBI and other banks as part of the 2G mobile licence allocation probe.

However, SBI chairman O.P. Bhatt, wasn’t having any of it, telling Indian reporters at a conference that the news had come as “a total surprise” to him. He added no-one had told him about the reports.

And sources at the CBI have also backed up Bhatt’s claims.

“We have checked with our officers in different cities and there is nothing like this happening,” one of the sources told Reuters.

The 2G license quarrel has been raging for some time now. Over the past few months there have also been accusations of head honchos leaking tapes in a bid to uncover the truth behind the “scandal”.