Ever since the Modi announcement of the demonetisation on November 8th, black money holders have been thinking of different ways to convert their money into white or save their money. To help them some of the banks are alleged to be helping them in the money
Axis Bank: Recently The Income Tax Department on Friday conducted a survey at an Axis bank and found Rs 100 crore deposited in around 44 fake accounts, at the bank's Chandi Chowk branch in New Delhi, News 18 report said thus helping in the possible tax evasion by way of illegal exchange of demonetized currency notes.
Officials said the taxman visited the bank’s branch in Chandni Chowk area here and found that huge sums were deposited in multiple accounts post November 8, in the value of Rs 500 and Rs 1000 notes. “The Income tax department is checking the records of the bank as part of a survey operation.
As per the reports published in firstpost, some report says that so far Rs 450 crore had been deposited in Axis bank post the government's note ban exercise.
They added the taxman was probing some accounts which were dubious as they were opened by allegedly using fake Know Your Customer (KYC) documents and it was suspected some entry operators used the accounts to deposit funds.
The amount under scanner is understood to be around Rs 100 crore, they said.
The Gurugram Police on Sunday, Dec 11 has filed a case against a HDFC bank cashier in DLF Phase-2, in connection with the November 30 seizure of old currency notes worth Rs 10.96 lakh in old 1,000 and 500-rupee notes.
Four of the accused have been charged under Section 420, 311 and120B of Indian Penal Code (IPC). As per reports, the bank manager was involved in converting old scrapped currency of higher value to new one for which he was getting ransom amount.
The case was registered against four of the accused after the investigation of the Excise Department.
Looks like the doctors who should take care of the demonetisation, the banks, someway they are not taking the full responsibility to make the demonetisation as effective as possible.
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