New Delhi: After raiding Noida and Connaught Place branches of Axis Bank yesterday, Income Tax Department has raided Krishna Nagar branch of the lending institution on Friday morning, reports news agency ANI.


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The reports claim that officials found 12 fake accounts in these fake accounts.


The accounts were being operated with an aim to launder black money. This is part of the search operation conducted by the Noida unit of Income Tax.The Income Tax department is trying to analyse the quantum of transactions through these fake companies.


Meanwhile, stock markets have sought a clarification from Axis Bank  and the latter has issued a press release in this respect.


Cases against Axis Bank managers will be filed soon, informed income tax department to media.


The Enforcement Directorate is in touch with the IT team and have started their investigation.


Axis Bank on Thursday had said that it has so far suspended 24 employees and 50 accounts for suspicious activities related to black money.


On Thursday, IT officials reportedly raided the Axis Bank branch of Noida Sector 51 and seized Rs 60 crore in about 20 fake accounts.


And in the wake of disclosure of transgressions in its network, the private lender said it has so far suspended 50 accounts and 24 employees for suspicious activities.


Asserting that investigating agencies acted on tip-offs provided by the bank itself, it admitted that the adverse publicity was affecting its brand, but hoped this was temporary.


Axis's retail banking head Rajiv Anand said so far the investigating agencies had visited eight branches, including five in New Delhi, and the number of employees suspended has gone up to 24 from 19 last week.


These suspensions exclude impact of the visit by Income Tax officials to its Noida branch this morning following a trail of Rs 600 crore deposit by a jeweller. The bank called it a "visit" by I-T officials who asked for details on 30 accounts.