Post-demonetisation cash chaos: Govt swings into action, vows to take steps against ‘corrupt’ bank officials

The Narendra Modi government has swung into action against ‘corrupt’ bank officials who have been involved in the financial wrongdoings after the announcement of currency ban on November 8. 

According to ANI tweet, the Finance Ministry has given a stern message to the banks that it is seriously looking into matters of involvement of bank officials in wrongdoings. 

Earlier on Saturday, Prime Minister Narendra Modi announced that those who seek to turn their black money into white through back doors will not be spared. 

“People who thought they can save their corrupt wealth through back doors did not realise that Modi has put CCTV cameras on all possible ways. We will not spare anyone who is committing fresh financial crimes after the announcement of demonetisation on November 8,” he said while addressing a farmers’ rally in Deesa, Gujarat.  (Read full story here)

In one such incident on Friday, Income Tax officers raided Axis Bank branch in Chandni Chowk in Delhi. A total of 44 fake accounts were identified in the bank branch. Income Tax officers found cash deposits worth Rs 100 crore in fake accounts. (Read full story here)

On November 25, IT department had raided another branch of Axis Bank in Kashmiri Gate in Delhi, where in they started investigations against two bank officials for allegedly accepting bribe in gold bars in lieu of giving Rs 3.5 crore new notes to two people. (Read full story here)