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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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Agencies
July 29,2020

New Delhi, Jul 29: Coronavirus infections in India continue to mount as the country's total case tally crossed the 15-lakh mark.

India added 48,513 fresh cases in 24 hours, taking the total tally to over 15.3 lakh, according to the Health Ministry’s 8 a.m. update on July 29.

Key Figures

Total number of confirmed coronavirus cases: 15,31,669
Active cases: 5,09,447
Cured/discharged/migrated: 9,88,029
Deaths: 34,193
Number of fresh cases in 24 hours: 48,513
One-day recoveries: 35,175
One-day deaths: 768
India’s coronavirus epidemic is growing at the fastest pace in the world, increasing 20% over the last week, according to Bloomberg’s Coronavirus Tracker. Maharashtra, Tamil Nadu, Andhra Pradesh and Karnataka are among the states where the maximum number of daily cares are being reported.

Fresh cases continued to come in at a heightened pace, hovering just below 50,000 for the last six days.

Moderna Inc.’s vaccine candidate against Covid-19 protected against the virus in a trial that inoculated 16 monkeys, an encouraging step on the path to a defense for humans against the pandemic. Pfizer Inc., however, is preparing for the novel coronavirus to endure, leading to long-term demand for a seasonal shot to protect against Covid-19.

“There is a likely scenario that either the vaccine’s immunity will not be lasting forever,” said Chief Executive Officer Albert Bourla in an interview Tuesday, “or that the virus will mutate, or that the virus will find ways to come back again and again.”

Even as the transmission rate of Covid-19 remains high in India, the pace of recovery has risen too. On Wednesday, India reported its third day of over 35,000 recoveries.

Global Update

Flare-ups in virus cases from Hong Kong to Europe are proving difficult for policy makers to wrangle. The U.S. neared 150,000 deaths from Covid-19, even as daily infections slowed in some hard-hit states. China reported 101 new cases, up from 68 a day earlier, with 98 of the total from local infections, mostly in Xinjiang.

Philippine health authorities warned that hospitals and infirmaries risk getting overwhelmed.

Globally, confirmed Covid-19 cases have topped 16.6 million with over 658,000 dead.

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News Network
February 1,2020

New Delhi, Feb 1: Prime Minister Narendra Modi on Saturday greeted the Indian Coast Guard on its raising day, appreciating its efforts to keep the country's coasts safe.

The Coast Guard came into being in 1977.

"Greetings to the Indian Coast Guard on their foundation day. Our Coast Guard has made a mark due to their remarkable efforts to keep our coasts safe," Modi tweeted.

The prime minister said the force's "concern towards the marine ecosystem is also noteworthy".

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News Network
May 14,2020

New Delhi, May 14: With a spike of 3,722 new cases in the last 24 hours, the COVID-19 count in India reached 78,003 on Thursday morning, according to the Ministry of Health and Family Welfare.

As per the latest update by the Ministry, there are 49,219 active cases in the country while 26,235 patients have been cured and discharged, and one migrated, so far.

With 134 new deaths being reported due to the disease since yesterday, the toll due to the disease reached 2,549.

With 25,922 confirmed cases, Maharashtra is the worst affected by the infection in the country so far.

Gujarat and Tamil Nadu, with 9,267 and 9,227, cases respectively are the next worst affected by the disease.

The national capital, Delhi, is just a couple of cases behind the 8 thousand mark as per the update on Thursday morning.

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