Former CMD of United Bank of India, Archana Bhargava is being investigated by the CBI. She has been accused of gathering disproportionate assets worth over INR 3.6 crore to her known sources of income.
Bhargava during her tenure from 2004 to 2014 accrued assets worth INR 4.89 crore and incurred an additional expenditure of INR 1.47 crore against the income of INR 2.73 crore.
The root of the present case lies in a previous corruption case registered against her in 2016 where the CBI had alleged that she obtained ‘certain amounts’ for herself or for a private firm run by her family member to which various credit facilities were extended by the banks for whom she was working.
In 2016, the CBI claimed assets of worth INR 5.42 crore in her name and family members that included INR 2.26 crore in her bank accounts. Documents of two properties—a three storey bungalow at Noida and a flat at Vasant Kunj, New Delhi and two properties in the name of her family members in Delhi and Mumbai were found under her name.