I-T unearths Rs 871 crore scam in Rajkot bank

January 9, 2017

New Delhi, Jan 9: The income tax (I-T) department has detected huge alleged discrepancies in the transactions of a Rajkotbased cooperative bank where Rs 871 crore deposits were made, over 4,500 new accounts opened and more than five dozen accounts having same mobile number initiated, making it one of the biggest cases of black fund generation post November 8.

rajkotThe department's Ahmedabad probe wing has now initiated action under tax laws and has sought full details from the bank after it conducted survey operations against it sometime back and found large irregularities.

Officials said the department's investigation till now has found that cash deposits of Rs 871 crore, majorly using the old notes of Rs 500 and Rs 1000, was made in this bank between November 9-December 30 last year while Rs 108 crore was withdrawn during the same period in a highly suspicious manner not commensurate with the bank's activities during the same period in 2015 or at other times.

The sleuths have identified at least 25 high value cash deposits post demonetization where Rs 30 crore monies have been transacted in an alleged suspicious and unsatisfactory manner and in accounts with purported weak KYC norms in place. An I-T analysis report prepared in this regard states that Rs 10 crore funds were deposited in a number of "dormant" accounts post the currency scrap, including in that of a petroleum firm where Rs 2.53 crore was deposited.

What has startled the taxman has been the fact that a total of "4,551 new accounts were opened in the bank post demonetization as against the average 5,000 of such accounts usually opened in the full year while 62 of these were opened using one mobile number." It was detected, they said, that there were blatant discrepancies in the pay-in slips filled to make the deposits as none of them had PAN numbers quoted, many had no signatures of the depositor even as none had any documents to reflect the source of these amounts.

"It was found that the son of bank's ex-director has received Rs 1 crore through cash deposits in 30 bank accounts. All the pay-in slips were filled by the same person. "Also, the mother of the vice-chairman of the bank has received 64 lakh of cash deposits which have ultimately been transferred to a jeweller," the report alleged and added the funds moved through RTGS and other banking transfer channels.

Comments

Skazi
 - 
Monday, 9 Jan 2017

Shaji, even the role of notorious BJP leaders can not be ruled out ....

Let the justice prevail, and INDIA be CLEAN ....

shaji
 - 
Monday, 9 Jan 2017

I hope investigation will lead to involvement of anti social, anti national and terrorist organisation in this huge currency deal.

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News Network
May 22,2020

Bengaluru, May 22: Karnataka Congress delegation met Chief Election Commissioner, Dr B Basavaraju in Bengaluru, urging him to guide Karnataka Government to conduct local body elections and not to allow State government to nominate their party men to the local bodies.

The delegation was led by Congress leader Siddaramaiah and Karnataka Pradesh Congress Committee (KPCC) president D K Shivakumar.

"They (State government) wants to postpone the election, they have a lot of other provisions. We are demanding to protect the law, the government doesn't have the power to interfere in the system. We will not allow the state government to nominate their party men.

The CM and his entire team is responsible for this, they are killing the democracy and Panchayati Raj system of the State," said Shivakumar while speaking to the reporters.

The local body elections were scheduled to take place in the month of March or April, which were postponed in view of the COVID-19 crisis.

However, the date for conducting the local body elections has not been decided yet.

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News Network
June 23,2020

Bengaluru, Jun 23: In an attempt to avoid exploitation of patients affected with coronavirus, the Karnataka government on Tuesday announced fixing charges that could be collected from patients by the private hospitals for treatment in the State.

There are now two sets of rates for patients--those who are referred by public health facilities and those who approach private hospitals directly.

According to the notification issued by State Chief Secretary TM Vijay Bhaskar on Tuesday, 50 per cent of the total beds in private hospitals having facilities to treat Covid-19 patients shall be reserved for the treatment of patients referred by public health authorities.

This will include the high-dependency unit and ICU (intensive care unit) beds both with and without ventilators. The hospitals may utilise the remaining Covid beds for admitting Covid-19 patients privately.

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News Network
June 30,2020

Bengaluru, Jun 30: Private medical colleges in Bengaluru have agreed to join hands with the Karnataka government for the treatment of COVID-19 patients.

The representatives from private medical colleges have promised the state government to provide 2000 beds immediately and another 4500 beds will be added within a week.

The development took place as Chief Minister BS Yediyurappa on Tuesday held a second round of meeting with representatives of private hospitals at Vidhana Soudha over COVID-19. 

The Chief Minister and Medical Education Minister Dr K Sudhakar held separate meetings with the representatives from private colleges administration and all the private colleges have assured to extend their support to the government decision. 

"There are 11 private and three government medical colleges in the city and we will get about 6500 beds from these for COVID treatment," Dr Sudhakar informed media after the meeting.

He further said, "These facilities including doctors and staff will be made available to the government within a week and the beds will be allocated to COVID patients through BBMP's centralised system. The insurance facility will be extended to the doctors and staff serving in these private hospitals also."

PG students in private medical colleges and other staff will be utilised in COVID Care Centres, the minister said.

"There will be some changes in the treatment protocols going forward. The decision regarding this will be taken in the meeting that will be held in the evening under the chairmanship of the CM," the minister explained.

According to him, symptomatic patients, persons aged above 60 years and those with comorbidities like diabetes, hypertension and serious kidney, liver, lungs and heart-related ailments will be admitted to hospitals. 

Other asymptomatic persons will be monitored in COVID care centres. Detailed notification with these guidelines will be released tomorrow, the minister said.

The meeting was chaired by CM BS Yediyurappa and Deputy CM Ashwatnarayana, Ministers Basavaraj Bommai, R Ashoka and senior officials were also present.

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