The Central Bureau of Investigation on Thursday filed a case against former chairperson of United Bank of India, Archana Bhargava, for allegedly having assets disproportionate to her declared income, PTI reported. Bhargava allegedly had disproportionate assets worth over Rs 3.6 crore.
She amassed the assets during her tenure at various banks in senior positions between 2004 and 2014, the agency alleged. The estimated worth of the illegal assets is over 133% more than her known sources of income, the CBI’s First Information Report said.
Bhargava was a deputy general manager and, later, general manager at Punjab National Bank between 2004 and 2011. She was executive director at Canara Bank between 2011 and 2013, and then chairperson and managing director at United Bank of India between April 2013 and February 2014.
In September 2016 as well, the CBI had filed a case against Bhargava for alleged corruption. During its searches, the agency found cash, jewellery and investment details to the tune of over Rs 10 crore. The CBI had alleged that she had obtained “certain amounts” for herself or for a private firm, owned by her husband and son, “from the companies to which various credit facilities were extended by the banks where she had worked”.