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old notes of Rs 500 and Rs 1000, was made in this bank between November 9-December 30 last year while Rs 108 crore was withdrawn during the same period in a highly suspicious manner not commensurate with the bank's activities during the same period in 2015 or at other times.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.

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
coastaldigest.com news network
February 5,2020

Bengaluru, Jan 5: B S Yediyurappa-led Karnataka cabinet has finally decided to resume supply of subsidised rice and wheat to students of welfare institutions and hostels including those run by religious mutts under the Dasoha Scheme’s welfare programme. The supply was stopped over two months ago.

“Cabinet has decided to continue supply of subsidised foodgrains (rice and wheat) for the benefit of 37,700 children under the Dasoha scheme in 351 welfare institutions for the next one year at the cost of Rs 18 crore,” said J C Madhuswamy, Law and Parliamentary Affairs Minister. Under this scheme, institutions that provide free accommodation and food for students are entitled to avail 10 kg rice and 5 kg wheat per student every month at subsidised rates. But following a central government directive in November, the state government had stopped supply to private institutions since December.

Hours before the cabinet meeting, Khader addressed a press conference and said, “This government is snatching away food from children by stalling the supply of foodgrains. Institutions like Suttur Mutt, Siddaganga Mutt that have worldwide fame for their service are being inconvenienced by this,” Khader said.

Finding itself in a fix, especially in a matter that involves mutts, the cabinet was quick to restore the supply. “Foodgrains were being supplied to 183 government-run institutions and 281 institutions run by private entities. As per a central government directive, supply to private institutions was stopped but the decision was made by the previous government,” Shashikala Jolle, Women and Child Development Minister, said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 28,2020

Bengaluru, Jun 28: Criminal cases will be lodged against people for not adhering to the COVID-19 protocol in the city, said a top police official on Sunday.

"Deputy Commissioners of Police (DCPs) and BBMP (officials) are on the streets to enforce wearing of mask and social distancing. Warnings now, criminal cases will follow," said Police Commissioner Bhaskar Rao.

He exhorted people to insist on everybody wearing a mask and maintaining social distance.

"Urge every Bengalurean to enforce mask enforcement and social distancing. If people argue, call 100. We are ready to respond to your calls," said Rao.

Assuring the city residents, he said one should not worry about others being high and mighty while making sure everybody follows the Covid precautions.

"Don't bother about high and mighty factor, whosoever it is, just tell people around you to wear mask and not hanging around neck," said the Commissioner.

On Saturday, DCP Rohini Katoch Sepat conducted a special drive to ensure everybody is following the Covid rules.

"Conducted a special drive along with BBMP marshals, imposed fine for not wearing mask and social distancing," said Sepat.

The senior police officer had also sealed down some shops for not conforming to the social distancing directions.

Sepat personally made announcements through a megaphone, spoke to shopkeepers, pedestrians and walked the streets in enforcing the rules.

Similarly, Rao also warned commercial establishments of raids and legal action in the event of Covid rules violation.

"Shops, malls, banks, hotels, offices and establishments. All of you are already aware of precautions to be taken. If you do not implement mask wearing and ensure safe distance, city police will raid and initiate legal action," asserted Rao.

On Friday, Bengaluru North DCP Shashi Kumar closed down some shops which did not follow Covid rules and rewarded some shopkeepers who adhered to them with roses.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 9,2020

Bengaluru, Jan 9: Primary and Secondary Education Minister S Suresh Kumar on Thursday said that the Education Department would launch a helpline by March 2020 to address the complaints.

Speaking to reporters here, he said, the helpline is not only for children but also for teachers.

"Entire department including teachers and parents can make use of the opportunity”, the minister said.

“The helpline can be called for any complaint related to the Education Department. Our objective is to resolve problems within a stipulated time,” the Minister said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.