IT sleuths raid SCDCC Bank following information of illegal transactions

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Mangaluru: Following a controversy that the South Canara District Central Cooperative (SCDCC) Bank had helped in black money stashing, a six-member team of Income Tax Department raided it in Mangaluru. The IT sleuths verified the money transaction documents kept by the bank after Chairman M N Rajendra Kumar said there were no illegal transactions.

As the inspection of the documents was on, daily bank activities were halted and customers were not allowed to enter the bank as well. A few days earlier, Rajendra Kumar had called for a press conference to clear SCDCC Bank’s name after some sections of media had claimed that the bank had encouraged illegal deposits through fake accounts.

According to the IT Department and Enforcement Directorate (ED), SCDCC Bank had handed over the transaction details to both the departments on December 23. A three-member team from ED had raided the Bank on Monday, December 26 and inspected the account numbers of SCDCC customers who had deposited more than Rs 2.5 Lakh after demonetisation.

Following this, the IT department team also raided SCDCC Bank on Tuesday, December 27 to verify the documents on their own terms. The inspection is in progress and the verdict will be given once all the aspects of verification process are complete.

 

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