Demonetisation: 27 senior PSU banks officials suspended

December 02, 2016 19:21

In a major crackdown on bank employees involved in irregularities post demonetisation, as many as 27 senior officials of various public sector banks have been suspended and six others transfered to check corrupt practices.

The suspensions comes amid reports of Income Tax authorities conducting search and seizure places at many places, including one at Bengaluru where Rs 5.7 crore cash in new currency notes was recovered from two businessmen.

Some cases have come to notice of officials involved in carrying out transactions which were irregular and violative of RBI's instructions, the finance ministry said in a statement.

"Action has been taken in such cases and 27 officials of various public sector banks have been placed under suspension and six officials have been transferred to non-sensitive posts," it said.

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