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Branches of 10 Banks with most Deposits raided
By: Tupaki Desk | 7 Dec 2016 4:01 PM GMT
The Enforcement Directorate (ED) Today raided over 50 branches of 10 banks across the country to find out if there are any financial irregularities such as money laundering and hawala transactions. Raids were conducted at both private and public banks, which received most deposits after the scrap of Rs 500 and Rs 1000 currency notes, simultaneously.
ED Officials had throughly checked the transaction record and account statements since November 8th in each of these branches. All the major cities such as Mumbai, Delhi, Hyderabad, Bangalore, Kolkata and Chennai were covered.
Intelligence Agencies have brought to the notice of alleged irregularities in bank transactions across the country after the launch of demonetization. As a result, Searches have been conducted at 40 locations last week. Today, ED covered 50 more locations. Any kind of financial crimes will be dealt strictly as per Prevention of Money Laundering Act (PMLA) and Foreign Exchange Management Act (FEMA)
ED Officials had throughly checked the transaction record and account statements since November 8th in each of these branches. All the major cities such as Mumbai, Delhi, Hyderabad, Bangalore, Kolkata and Chennai were covered.
Intelligence Agencies have brought to the notice of alleged irregularities in bank transactions across the country after the launch of demonetization. As a result, Searches have been conducted at 40 locations last week. Today, ED covered 50 more locations. Any kind of financial crimes will be dealt strictly as per Prevention of Money Laundering Act (PMLA) and Foreign Exchange Management Act (FEMA)
