In a major crackdown, the Enforcement Directorate has raided 50 banks on suspicion of hawala transactions and money laundering, ANI quoting sources reported on Wednesday. The major crackdown comes almost a month after Prime Minister Narendra Modi-led Central Government had declared demonetisation of Rs 500 and Rs 1000 bank notes.
“Checking records of 50 branches of 10 banks all over India where maximum amount of cash in old currency has been submitted,” a source told ANI. “We have started checking up those account who have suspicious transaction post Demonetisation,” said sources. “ED tab eye on those accounts in which huge amount of money is deposited at one time,” it added.
ED carries out raids at over 50 bank branches due to suspicion of hawala transactions and money laundering following #DeMonitisation drive
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The Enforcement Directorate (ED) has been conducting nationwide to tighten the noose on money exchangers who are allegedly depositing unaccounted scrapped notes into banks with the help of bank executives. As per reports, the ED has successfully seized around one crore scrapped notes (Rs 1000 and Rs 500 notes) during the raids along with Rs 20 lakh new notes.
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In a major success, Government on Tuesday released a statement which showed that approximately Rs 2000 crore of undisclosed income was admitted by taxpayers since the announcement of demonetisation. The statement also noted that the Income Tax Department had carried out investigations into more than 400 such cases since the announcement and seized Rs 130 crore in cash and jewellery. The I-T officials had termed it as ‘highest seizure’ of the new currency in the country post demonetisation, as most of the money seized was in the form of Rs 2,000 notes. “Some entry operators and bankers in Karnataka and Tamil Nadu are under the scanner. Such volume of new currency cannot be obtained without the connivance of bank officials,” a senior I-T department was quoted as saying by PTI.
Further inputs awaited