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  1. 460 banks officials punished for alleged irregularities: CVC

460 banks officials punished for alleged irregularities: CVC

At least 460 officials of various banks, including those from some private sector and the Reserve Bank of India, were punished for their alleged involvement in irregularities post-demonetisation, Vigilance Commissioner T M Bhasin said today.

By: | Published: October 26, 2017 5:48 PM
Reserve Bank of India, post-demonetisation, TM Bhasin, Private sector At least 460 officials of various banks, including those from some private sector and the Reserve Bank of India, were punished for their alleged involvement in irregularities post-demonetisation, Vigilance Commissioner T M Bhasin said today.(Image: IE)

At least 460 officials of various banks, including those from some private sector and the Reserve Bank of India, were punished for their alleged involvement in irregularities post-demonetisation, Vigilance Commissioner T M Bhasin said today.  Addressing a press conference, he said the commission acted on all such complaints of corruption and took necessary action.  “Action has been taken against 460 officials of various banks. For the first time, action was taken against those in the private sector banks and against those in the RBI,” Bhasin said.

He was responding to questions on action taken by the Central Vigilance Commission on complaints against certain banks officials for violating the RBI norms to allow conversion of demonetised notes of Rs 500 and Rs 1,000 denominations.  Prime Minister Narendra Modi had on November 8 last year announced ban on old Rs 500 and Rs 1,000 notes.  The government had allowed a limited-time window for people to convert or deposit the demonetised notes.

The Central Bureau of Investigation (CBI) has also registered over 30 cases involving the bank officials for their alleged involvement in corruption after the note ban was enforced.

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