Auditors of 50 Bank Branches are under Examination

On the heels of allegations of bank officials being involved in largescale money laundering across the country, the Enforcement Directorate is examining the documents of at least 50 bank Branches to determine if there is any truth in the charges.

Sources said the banks on the list have seen the largest deposits after the government's announcement of cash ban on November 8. The auditors of the banks are also part of the examination.

The list covers banks in all they key cities - including Delhi, Mumbai, Kolkata, Ahmedabad, Lucknow, Goa, Chandigarh and Jaipur.

Besides looking at the documents, the agency will also examine CCTV footage from some of the banks, sources said.

The agency, sources said, will specially focus on the banks that saw huge deposits after the cash ban announcement, and within days the money was either transferred to other accounts, or taken out.

Since the government scrapped high denomination notes of Rs. 500 and Rs. 1000 to flush out black money last month, 27 officials of public sector banks have been suspended or transferred.

Despite the warning of the Reserve Bank of India to anyone who helps launder money, there have been allegations that largescale laundering of money is being done with the connivance of bank officials.

This, along with several arrests across the country coupled with the seizure of huge caches of new Rs. 2,000 notes have got the scanner on the banks and its officials.

The government has said the agencies are tracking all possible leads. #casansaar (PTI - NDTV Profit)