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  1. Demonetisation arrests: RBI reacts to cash fiasco, defends bankers

Demonetisation arrests: RBI reacts to cash fiasco, defends bankers

"In an operation of this size,there are always elements who would've behaved otherwise than what is expected,we're keeping vigil,” Mundra said.

By: | New Delhi | Updated: December 13, 2016 5:52 PM
rbi on arrest by cbi, rbi defends on arrests by cbi, rbi statement on arrest f official, rbi officials arrest by cbi, cbi arrest rbi officials “In an operation of this size,there are always elements who would’ve behaved otherwise than what is expected,we’re keeping vigil,” Mundra said. (Reuters)

In wake of RBI officials’ arrests, its Deputy Governors R Gandhi and SS Mundra on Tuesday come out to defend the efforts of bank employees in the entire demonetisation exercise. Referring to the media reports on the arrest of a RBI official from Bengaluru, Deputy Governor SS Mundra said that some people always act ‘otherwise’ in such a large scale operation. He, however said, that bank officials have been working with high efforts and have won appreciation for the same.

“Would like to mention that from the beginning of this process,bank employees have made efforts, majority have won appreciation. In an operation of this size,there are always elements who would’ve behaved otherwise than what is expected,we’re keeping vigil,” he said. He added that a probe has been set-up and due action will be taken against the accused, “The concerned employee has been suspended, we have instituted investigation. Action will be taken once details are known.”

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“There have been already cases where banks have taken action against the staff members,” said Mundra. He said that banks have been instructed carry out central data checking, “We have issued elaborate instructions to all bank managements to do the central data checking, whenever any untoward transaction/action is noticed, due investigation would be done,” he said.

Earlier in the day, K. Micheal, a senior special assistant of the Reserve Bank of India was arrested in Bengaluru for the alleged conversion if banned notes of Rs 500 and Rs 1000. According to reports, 8 others have also been arrested in a series of the raids by the Income Tax department, where new notes amounting to crores have been seized.

 

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