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
April 15,2020

New Delhi, Apr 15: A day after Prime Minister Narendra Modi announced the extension of COVID-19 lockdown till May 3, the Ministry of Home Affairs (MHA) on Wednesday issued consolidated revised guidelines on measures to be taken by Ministries and Departments of Government of India, state and Union Territory governments and authorities for the containment of COVID-19.

As per the guidelines, all domestic and international air travel of passengers (except for security purposes), passenger movement by trains (except for security purposes), buses for public transport, metro rail services will remain prohibited.

It stated that all educational, training, coaching institutions etc. shall remain closed. Inter-district and inter-state movement of individuals except for medical reasons or for activities permitted under guidelines shall remain prohibited.

Taxis (including auto-rickshaws and cycle rickshaws) and services of cab aggregators to remain prohibited until May 3.

Also, all cinema halls, malls, shopping complexes, gymnasiums, sports complexes, swimming pools, entertainment parks, theatres, bars and auditoriums, assembly halls and similar places shall remain closed.

All social/political/sports/entertainment/academic/cultural/religious functions/other gatherings will also not be allowed.

"All religious places or places of worship shall be closed for public. Religious congregations are strictly prohibited. In the case of funerals, a congregation of more than 20 persons will not be permitted," the guidelines stated.

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News Network
January 3,2020

New Delhi, Jan 3: The National Payments Corporation of India (NPCI) on Thursday said the homegrown payments technology RuPay will offer 40 per cent cashback for its international card users for transactions in select countries.

Indians travelling to the UAE, Singapore, Sri Lanka, the UK, the US, Spain, Switzerland and Thailand will be able to earn up to Rs 16,000 cashback per month by getting their RuPay International Card activated, the NPCI said in a release.

With RuPay International cards --JCB, Discover and Diners Club--customers using multiple cards can earn more cashbacks under the 'RuPay Travel Tales' campaign.

To avail the cashback benefit, customers will have to do a minimum transaction of Rs 1000 and the maximum cashback is capped at Rs 4,000 for a single transaction.

The offer can be availed by customers using RuPay International Card four times a month that can give them a chance of earning up to Rs 16,000 as cashback.

Praveena Rai, COO, NPCI said, "We always aim to create an end-to-end value proposition for RuPay International cardholders to make their overseas travel experience seamless and memorable. The campaign is not only providing an exciting platform for travelers to earn cashbacks but also motivating them to migrate towards digital transactions nationally and globally".

Apart from earning cashbacks, RuPay International cardholders can access to RuPay affiliated domestic/international airport lounges.

They also can avail attractive offers on booking international fights and hotels in association with Thomas Cook and Make My Trip, the release said.

RuPay has a partnership with Discover Financial Services (DFS) and Japan based JCB International, allowing RuPay users the access to across 190 countries.

As on date, there are over 1,100 banks live on RuPay platform including SBI, HDFC Bank, Axis bank, among others.

RuPay card base has crossed 600 million, half of which are in the mid and premium segments, NCPI said.

NPCI was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. An initiative of RBI and IBA under the provisions of the Payment and Settlement Systems Act, 2007, NPCI was initiated for creating a robust payment and settlement infrastructure in the country.

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News Network
March 28,2020

New Delhi, Mar 28: The total number of coronavirus positive cases in the country has risen to 918 that include foreign nationals, the Ministry of Health and Family Welfare said on Saturday.

The ministry said: "The total positive cases of coronavirus are 918. The active COVID-19 cases are 819. Cured and discharged are 79. While 19 deaths have occurred so far. One person with COVID-19 migrated. As many as 15,24,266 passengers were screened at airports."

Prime Minister Narendra Modi on Tuesday announced a 21-day lockdown in the entire country to deal with the spread of coronavirus, saying that "social distancing" is the only option to deal with the disease, which spreads rapidly.

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