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
June 13,2020

New Delhi, June 13: A quarantine notice pasted outside former Prime Minister Manmohan Singh’s 3, Motilal Nehru Place residence has raised speculations among media and political circles.

According to reports, the daughter of a domestic help who works at Singh’s residence has tested positive. She and her family, who live in the servant quarters, have been quarantined.

Singh, who has not been keeping well for some time, is slowly getting active. Congress leaders said the former Prime Minister attended a meeting of the party’s consultative committee on Thursday through video conference.

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Agencies
February 10,2020

New Delhi, Fevb 10: Of the countries most at risk of importing coronavirus cases, India ranks 17th, researchers have found on the basis of a mathematical model for the expected global spread of the virus that originated in China's Wuhan area in December 2019.

So far, India has reported three coronavirus positive cases -- all from Kerala.

Among the airports in India, the Indira Gandhi International Airport in New Delhi is most at risk, followed by airports in Mumbai, Kolkata, Bengaluru, Chennai, Hyderabad and Kochi, according to the model.

The new model for predicting global novel coronavirus cases has been developed by researchers from Humboldt University and Robert Koch Institute in Germany.

"The spread of the virus on an international scale is dominated by air travel," said the study.

"Wuhan, the seventh largest city in China with 11 million residents, was the relevant major domestic air transportation hub with many connecting international flights before the city was effectively quarantined on January 23, 2020, and the Wuhan airport was closed. By then the virus had already spread to other Chinese provinces as well as other countries," it added.

The researchers said that it is possible to estimate how likely it is that the virus spreads to other areas by looking at air travel passenger numbers.

"The busier a flight route, the more probable it is that an infected passenger travels this route. Using these probabilistic concepts, we calculate the relative import risk to other airports. When calculating the import risk, we also take into account connecting flights and travel routes that involve multiple destinations," said the study.

The top 10 countries and regions at risk of importing coronavirus cases are: Thailand, Japan, South Korea, Hong Kong, Taiwan, USA, Vietnam, Malaysia, Singapore and Cambodia, according to the model.

While Thailand's national import risk is 2.1%, it is 0.2% for India, found the research.

The foundation of the model is the worldwide air transportation network (WAN) that connects approximately 4,000 airports with more than 25,000 direct connections.

The model accounts for both, the current distribution of confirmed cases in mainland China as well as airport closures that were implemented as a mitigation strategy.

This network theoretic model is based on the concept of effective distance and is an extension of a model introduced in the 2013 paper "The Hidden Geometry of Complex, Network-Driven Contagion Phenomena" published in the journal Science.

The current outbreak of the 2019-nCoV virus started in Wuhan city, Hubei province, China. While the first cases were reported as early as December 8, 2019, the outbreak gained global attention on December 31, 2019, when the World Health Organization was alerted to "several cases of pneumonia" by an unknown virus.

The new virus was soon identified as a novel coronavirus and named 2019-nCOV. It belongs to the family of viruses that include the common cold and viruses such as SARS and MERS. On January 20, 2020, it was confirmed that the coronavirus can be transmitted between humans, greatly increasing the risk of a global spread.

The death toll due to the novel coronavirus outbreak in China has increased to 811 on Sunday, surpassing that of the Severe Acute Respiratory Syndrome (SARS) epidemic in 2003.

Although about 20 countries have confirmed cases, China has accounted for about 99 per cent of those infected. The first foreign victims of the virus both died on Saturday in Wuhan.

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News Network
February 16,2020

New Delhi, Feb 16: RSS chief Mohan Bhagwat on Saturday said everyone is unhappy in the society and constantly agitating notwithstanding a "many-fold rise" in materialistic comforts and pleasures.

Addressing a gathering of Sangh workers and intellectuals here in Gujarat, Mr Bhagwat also said that even political parties who are not in power are also agitating.

"Inspite of increase in comforts and materialistic pleasures, everyone is unhappy and is staging agitations. Be it owner or servant, a party in opposition, the common man students, teachers, everyone is unhappy and dissatisfied," the Rashtriya Swayamsewak Sangh (RSS) chief said.

He was speaking on the topic "India's Role in the Present World Context".

Mr Bhagwat further said that bigotry, violence and terrorism are on the rise in the present world.

"India has to give 'dharma'  (wisdom) to the world so that knowledge spreads but humans do not become robotic. We have always talked about the concept of global family but not global market," he said.

The lecture was organised by "Madhav Smruti Nyas", an organisation backed by the RSS.

"To think that we are living in a better world is a half truth. Facilities are not evenly distributed. Rule of Jungle is prevailing. A capable person is crushing the weak to climb up. Knowledge is used more for the destruction of the world," the Sangh chief said.

Mr Bhagwat said people are also misusing social media by spreading "false information" to create controversies.

He also stated that trying to put "everyone into one uniform" is also a form of bigotry.

"US and Russia are super powers. China would become a super power too. Now, what super power nations did to others? They just took control of other countries for their own selfish agenda. These super powers gave it back only when they were asked to do so. Otherwise, they never gave anything to others," said Mr Bhagwat.

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