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Banks asked to monitor suspicious cash dealings

By The Assam Tribune
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SHILLONG, Jan 20 - Meghalaya Election office has asked all the banks in the State to monitor and submit report on �unusual� and �suspicious� cash transactions exceeding Rs 1 lakh by candidates and their spouse to check cash flow in the run up to the February 27 poll.

Direction in this regard was given after a meeting held by State Chief Electoral Officer (CEO) FR Kharkongor with banks operating in Meghalaya on Friday.

As many as 36 banks are operating in Meghalaya including State Bank of India, Meghalaya Rural Bank and Meghalaya Cooperative Apex Bank.

Election Commission had on Thursday announced poll for 60-member Meghalaya Assembly on February 27. Model code of conduct has come into action after announcement of the poll.

�We have brought to their notice that the banks need to share information with respective Deputy Commissioners or District Election Officers regarding suspicious cash transaction through banks exceeding Rs 1 lakh,� CEO told reporters.

Banks have been told to also monitor transaction from account of candidate�s spouse or his dependents, as mentioned in the affidavit filed by them which is available on CEO�s website.

SLBC convener Bimal Deb Roy informed that these banks are having over 395 branches spread in 11 districts of the State.

In the Garo Hills region alone, SBI is having 41 branches while MRB is having 30 branches and MCAB 25 branches, he said.

The CEO said that the banks will keep a close watch on the unusual and suspicious cash withdrawal or deposit of cash in a bank account exceeding Rs 1 lakh during the process of election, without any such instance of deposit or withdrawal during the last two months.

He said the banks will also look into the unusual transfer of amount by RTGS from one bank account to the accounts of several persons in a district/constituency during the election process without any precedent of such transfer.

Besides, the banks have also been instructed to open dedicated counters for election purpose to facilitate prompt service to the candidates in opening of bank accounts and will be allowed for withdrawals and deposits on priority.

Kharkongor further said DEOs have also activated 180 flying squads who will be acting on tip offs on the movement of cash and take necessary actions.

He also said that the Election Commission will also be deploying Expenditure Observers in all the 60 constituencies. �They will be deployed in expenditure sensitive areas,� he added. � PTI

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Banks asked to monitor suspicious cash dealings

SHILLONG, Jan 20 - Meghalaya Election office has asked all the banks in the State to monitor and submit report on �unusual� and �suspicious� cash transactions exceeding Rs 1 lakh by candidates and their spouse to check cash flow in the run up to the February 27 poll.

Direction in this regard was given after a meeting held by State Chief Electoral Officer (CEO) FR Kharkongor with banks operating in Meghalaya on Friday.

As many as 36 banks are operating in Meghalaya including State Bank of India, Meghalaya Rural Bank and Meghalaya Cooperative Apex Bank.

Election Commission had on Thursday announced poll for 60-member Meghalaya Assembly on February 27. Model code of conduct has come into action after announcement of the poll.

�We have brought to their notice that the banks need to share information with respective Deputy Commissioners or District Election Officers regarding suspicious cash transaction through banks exceeding Rs 1 lakh,� CEO told reporters.

Banks have been told to also monitor transaction from account of candidate�s spouse or his dependents, as mentioned in the affidavit filed by them which is available on CEO�s website.

SLBC convener Bimal Deb Roy informed that these banks are having over 395 branches spread in 11 districts of the State.

In the Garo Hills region alone, SBI is having 41 branches while MRB is having 30 branches and MCAB 25 branches, he said.

The CEO said that the banks will keep a close watch on the unusual and suspicious cash withdrawal or deposit of cash in a bank account exceeding Rs 1 lakh during the process of election, without any such instance of deposit or withdrawal during the last two months.

He said the banks will also look into the unusual transfer of amount by RTGS from one bank account to the accounts of several persons in a district/constituency during the election process without any precedent of such transfer.

Besides, the banks have also been instructed to open dedicated counters for election purpose to facilitate prompt service to the candidates in opening of bank accounts and will be allowed for withdrawals and deposits on priority.

Kharkongor further said DEOs have also activated 180 flying squads who will be acting on tip offs on the movement of cash and take necessary actions.

He also said that the Election Commission will also be deploying Expenditure Observers in all the 60 constituencies. �They will be deployed in expenditure sensitive areas,� he added. � PTI

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