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Business News/ Politics / Policy/  Demonetisation: 27 senior PSU bank officials suspended on corruption charges
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Demonetisation: 27 senior PSU bank officials suspended on corruption charges

The suspensions come amid reports of income tax raids at many places, including one at Bengaluru where Rs5.7 crore in new notes was recovered

33 officials of state-owned banks were found violating norms laid down by RBI following demonetisation. Photo: MintPremium
33 officials of state-owned banks were found violating norms laid down by RBI following demonetisation. Photo: Mint

New Delhi: Action has been taken against 33 officials of state-owned banks who were found violating norms laid down by the Reserve Bank of India in the aftermath of demonetisation of high-value banknotes.

“Some cases have come to notice of officials involved in carrying out transactions which were irregular and violative of RBI’s instructions," said a finance ministry statement.

“Action has been taken in such cases and 27 officials of various public sector banks have been placed under suspension and 6 officials have been transferred to non-sensitive posts," the statement said.

The finance ministry warned that illegalities will not be tolerated and appropriate action will be taken against individuals involved in irregular and unauthorized activities.

The suspensions come amid reports of income tax raids conducting search and seizure places at many places, including one at Bengaluru where Rs5.7 crore cash in new currency notes was recovered from two businessmen. Some cases have come to notice of officials involved in carrying out transactions, which were irregular and violative of the Reserve Bank of India’s (RBI) instructions, the finance ministry said in a statement.

PTI contributed to this story.

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Published: 02 Dec 2016, 07:43 PM IST
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