Demonetisation: ED enquiry op at 50 banks across country

December 7, 2016

New Delhi, Dec 7: Stepping up action to check financial crimes post demonetisation, the ED today launched an 'enquiry of records' operation at over 50 bank branches across the country to detect money laundering and hawala dealing instances through these channels.

Demonetisation

Officials said multiple teams of the Enforcement Directorate (ED) swooped early morning at over 50 branches of at least ten banks, both in the private and public sector, along with banking auditors to "scrutinise" transaction records and account statements, armed with vital inputs gathered from financial snoop agencies.

They said ED teams have launched the operations at branches located in major cities like Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, Chennai and others based on records of transaction of these branches where the maximum amount of old notes have been deposited or huge cash has been deposited in bank accounts in one go or in a staggered fashion giving rise to suspicion of suspect deposits.

Officials said the sleuths and auditors are "looking at the banking transaction records post November 8" and instructions have been issued to these teams to ensure that regular operations and customer dealings are not affected due to this.

The ED, tasked with enforcing two important laws to check financial crimes--Prevention of Money Laundering Act (PMLA) and Foreign Exchange Management Act (FEMA)--has sourced Suspicious Transaction Reports (STRs) and Cash Transaction Reports (CTRs) of the banks under scanner from various financial intelligence agencies and has launched the operation to check possible financial irregularities, instances of money laundering and hawala dealings.

The agency had recently arrested two Axis Bank employees working at a branch in Delhi while probing a similar instance under PMLA.

ED, last week, had also conducted searches at 40 locations across the country in order to check black money held with currency exchanges, hawala dealers and others.

Comments

Skazi
 - 
Wednesday, 7 Dec 2016

Why only the transactions post Nov 8 are checked .... Make a comprehensive checking of all transactions from April 1 ....
Mr 56\ CHESTWALA... Pls show your courage"

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News Network
January 15,2020

Jan 15: Amazon.com Inc Chief Executive Officer Jeff Bezos is facing a bitter welcome during his India visit this week as the country’s antitrust regulator initiated a formal investigation just hours before his arrival and trader bodies comprising millions of infuriated small store owners announced demonstrations.

Bezos is in New Delhi for the Smbhav summit, an Amazon India event for small and medium businesses. The billionaire is scheduled to conduct a fireside chat with Amazon India chief Amit Agarwal, anchoring an event that also features Infosys Ltd. co-founder Narayana Murthy and retail billionaire Kishore Biyani, who recently sold a stake in his retail group to Amazon. Ahead of the event, Bezos paid his respects at Mahatma Gandhi’s memorial, wearing a white tunic and a rust-colored Indian vest.

The small businesses that Amazon’s CEO is hoping to endear himself to, however, are organizing in opposition. The Confederation of All India Traders announced that members of its affiliate bodies across the country would stage sit-ins and public rallies in 300 cities to raise a war cry against the world’s largest online retailer. In a letter to Prime Minister Narendra Modi last week, the confederation’s Secretary General Praveen Khandelwal alleged that Amazon, much like Walmart Inc.-owned Flipkart, was an “economic terrorist” who engaged in predatory pricing that deprived the government of tax revenue and “compelled the closure of thousands of small traders.”

India’s e-commerce market is projected to grow to $150 billion by 2022, according to a 2018 report by software industry group Nasscom and consulting firm PwC India. Competition for this rapidly expanding sector is intensifying as Asia’s richest man, Mukesh Ambani, prepares to go live with JioMart, an online shopping platform challenging Amazon and Walmart directly. The latter’s Flipkart Online Services Pvt is also delving deeper into the countryside in its pursuit for more customers. Amazon, for its part, opened a huge office complex in the southern city of Hyderabad in September, underscoring its commitment to the country.

The Competition Commission of India said it would probe the deep discounts, preferential listings and exclusionary tactics that Amazon and Flipkart are alleged to have used as anti-competitive levers. India’s trade bodies have long argued that both retail giants were flouting rules by promoting sales and discounts through their favoured sellers, many of whom they have preexisting commercial arrangements. The regulator has ordered for the investigation to be completed within two months.

Bezos last visited India in 2014 under starkly different circumstances. During that trip, the Amazon founder wore local festive garb, rode atop a festooned truck for a photo opp and presented Amazon’s Indian unit with a giant check for $2 billion. Since then, Amazon has pledged a further $3.5 billion to expand in the country.

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News Network
April 12,2020

New Delhi, Apr 12: With 34 deaths and 909 new positive COVID-19 cases in the last 24 hours, the total number of coronavirus cases in India on Sunday climbed to 8356, including 716 cured and discharged and 273 deaths, said the Ministry of Health and Family Welfare.

At present, there are 7367 active COVID-19 cases in the country.

"A total number of COVID-19 positive cases rises to 8356 in India, including 716 cured/discharged, 273 deaths and 1 migrated," said the Health Department.

The highest number of positive cases of coronavirus was reported from Maharashtra at 1761, including 127 deaths, followed by Delhi (1069 and 19 deaths), Tamil Nadu (969 and 10 deaths) and Rajasthan (700 and 3 deaths).

There are 452 coronavirus positive cases in Uttar Pradesh, including 45 cured and discharged and 5 deaths.

The states which have crossed 200-mark for COVID-19 positive cases also include Madhya Pradesh (532), Telangana (504), Gujarat (432), Andhra Pradesh (381) and Kerala (364).

While 19 people were detected positive for coronavirus in Chandigarh, 207 cases were confirmed from Jammu and Kashmir and 15 from Ladakh.

In North-East, Assam has confirmed the highest number of corona positive cases at 29, followed by Manipur and Tripur at two each and Mizoram, Arunachal Pradesh at one each.

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News Network
January 28,2020

Jan 28: After Union minister Anurag Thakur, on Tuesday, BJP MP Parvesh Verma has stoked a controversy by saying that "Shaheen Bagh protesters will enter houses and rape sisters, daughters." The BJP MP even went on to say that if BJP is voted to power in Delhi, they "will clear Shaheen Bagh protest within an hour."

"If the BJP comes to power in Delhi on February 11, we will clear Shaheen Bagh of all protests and protesters within one hour. Not a single person will be visible," Parvesh Verma said during a meeting at Vikaspuri assembly constituency.

"Lakhs of people gather there [Shaheen Bagh]. People of Delhi will have to think and take a decision. They will enter your houses, rape your sisters and daughters, kill them. There's time today, Modi ji & Amit Shah won't come to save you tomorrow..." the BJP MP told news agency ANI.

"If our government is formed, then give me just a month after February 11, and I will remove all mosques built on government land in my Lok Sabha constituency," the BJP parliamentarian added.

Well, these statements didn't go down well with the netizens, who took to Twitter to express what they felt about the BJP leader's comments. A user wrote, "This is pure, unadulterated hate speech." While other user said, "Only when you thought BJP couldn't stoop any lower."

Earlier, on Monday, BJP leader and Union Minister Anurag Thakur triggered a row after he led the crowd to raise an incendiary slogan that "traitors should be shot". At the rally, Thakur, the Minister of State (MoS) for Finance, shouted: "desh ke gaddaron ko" to which the crowd responded, "goli maro saalo ko" (shoot down the traitors).

Addressing the meeting in support of BJP candidate from Rithala, Manish Chaudhary, Thakur raised the pitch of nationalism as he linked opposition parties with anti-CAA protests in Shaheen Bagh and with alleged anti-India slogans, and then asked the crowd to raise the controversial slogan.

For more than a month, over 200 women have been joined by hundreds of others every day at South East Delhi's Shaheen Bagh at a sit-in protest against the CAA which promises citizenship to only non-Muslim refugees from three neighbouring countries.

Protests have been ongoing in different parts of the country against the amended Citizenship Act (CAA) which grants citizenship to Hindus, Sikhs, Jains, Parsis, Buddhists and Christians fleeing religious persecution from Pakistan, Afghanistan, and Bangladesh if they entered India on or before December 31, 2014.

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