New Delhi, December 6: Enforcement Directorate (ED) on Wednesday raided more than 50 banks across India over suspicious transactions related to money laundering and Hawala transactions.
The earlier reports suggested that the ED had conducted these raids to rip off banks involved in Scam of converting black money into white after charging a special interest rate, post demonetisation.
Later on, ED sources confirmed that 50 branches of 10 banks all over India were raided by enforcement directorate. The raids were conducted on the branches where maximum amount of cash in old currency has been submitted said the sources.
The sources also revealed that ED is checking up “accounts” with “suspicious transaction post #Demonetisation.”
Accounts in which huge amount of money is deposited at one time are under scanner, said the source.
Yesterday, the Income Tax Department has said that it had carried out investigations into over 400 cases post-demonetisation and seized as much as Rs 130 crore in cash and jewellery.
“More than Rs 130 crore in cash and jewellery has been seized and approximately Rs 2,000 crore of undisclosed income has been admitted by the taxpayers,” said the Finance Ministry statement.
The official statement of IT department also suggested that more than 30 such references have already been made to the ED and CBI for investigation.
“The concerted and coordinated enforcement action of the Income Tax Department, ED and CBI in detecting the malpractices and taking swift action is going to continue in the coming days,” it said.
However, the required “crackdown” to nab the black money and corruption has come only a month after Prime Minister Narendra Modi declared demonisation of Rs 500 and Rs 1000 currency notes on November 8.
Even after 29 days of high denomination currency note ban, queues at banks and ATMs are alive. Severe cash crunch has affected people immensely in urban as well as rural areas.