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
May 15,2020

New Delhi, May 15: With an increase of 3,967 COVID-19 cases in the last 24 hours, India's tally of coronavirus cases reached 81,970 cases, according to the Union Ministry of Health and Family Welfare on Friday.

According to the latest figures, 51,401 patients are active coronavirus cases while 27,919 patients have been cured/discharged and one patient has been migrated.

With a rise in 100 deaths due to COVID-19 in the last 24 hours, the number of deaths now stands at 2,649.

According to the Health Ministry, Maharashtra is the worst-hit state with regard to the number of COVID-19 cases with 27,524 cases of which, 6,059 patients have been cured/discharged and 1,019 succumbing to the virus.

Tamil Nadu has a tally of 9,674 cases inclusive of 2,240 patients cured/discharged and 66 fatalities.

Gujarat has a total of 9,591 cases which include 3,753 patients cured/discharged while 586 have lost their lives due to coronavirus.

Delhi has a tally of 8,470 cases of which 3,045 patients cured/discharged and 115 fatalities.

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Agencies
February 4,2020

New Delhi, Feb 4: Saying the matter had been adjourned many times and it will have to hear it someday, the Supreme Court on Tuesday fixed April 14 for hearing a plea by Zakia Jafri, wife of slain MP Ehsan Jafri, challenging the SIT's clean chit to then Gujarat chief minister Narendra Modi in the 2002 riots.

A bench comprising Justices A M Khanwilkar and Dinesh Maheshwari posted the matter for hearing in April after Zakia's counsel sought an adjournment and urged the court to post it after the Holi vacation.

When advocate Aparna Bhat, appearing for Zakia, told the court that the issue in the matter is contentious, the bench said, "It has been adjourned so many times, whatever it is, we will have to hear it someday. Take one date and make sure you all are available." Zakia had filed a petition in the apex court in 2018 challenging the Gujarat High Court's October 5, 2017 order rejecting her plea against the decision of the Special Investigation Team.

Ehsan Jafri was among the 68 people killed at Gulberg Society on February 28, 2002, a day after the S-6 Coach of the Sabarmati Express was burnt at Godhra killing 59 people and triggering riots in Gujarat.

On February 8, 2012, the SIT filed a closure report giving a clean chit to Modi and 63 others, including senior government officials, saying there was "no prosecutable evidence" against them.

Comments

Althaf
 - 
Tuesday, 4 Feb 2020

No use.. will Supreme court gives justice??? 

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Agencies
March 12,2020

Mumbai, Mar 12: In what appears to be the worst trading session in the Indian stock markets, the benchmark BSE Sensex crashed over 2900 points to end below the 33,000-mark.

The Sensex crashed 2,919.26 points to end at 32,778.14. So far it has touched an intra-day low of 32,530.05 points.

The Nifty50 on the National Stock Exchange also lost nearly 850 points so far. It plunged 868.25 points to 9,590.15.

The plunge was in line with the global markets as all Asian indices also traded in the red after the World Health Organization (WHO) declared coronavirus a global pandemic following which the Dow Jones Industrial Average also slumped significantly on Wednesday.

The bear run in both the global and domestic markets has continued off late on concerns of the coronavirus outbreak severely impacting the global economy. It has also raised calls for government intervention and support.

Central banks in several countries, including the US Federal Reserve have announced emergency rate cuts to boost sentiments. However, the concerns have only deepened in the past few days as the number of COVID-19 cases across the world has increased.

Further, following the rout in the global markets oil prices also fell on Thursday with the Brent crude trading around $34 per barrel.

The Indian rupee also felt the pressure and touched a 17-month low of 74.34 per dollar in its initial trade.

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