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ED launches enquiry of records at 50 banks

India Blooms News Service | | 07 Dec 2016, 03:28 pm
New Delhi, Dec 7 (IBNS) : The Enforcement Directorate on Wednesday started an 'enquiry of records' operation at over 50 bank branches across the country to detect money laundering and hawala dealing instances post demonetisation, reports said.

Several teams of the ED reached swooped early morning at over 50 branches of at least ten banks, both in the private and public sector to "scrutinise" transaction records and account statements.

ED teams have launched the operations at branches located in major cities like Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, Chennai and other cities.

The ED move will be  based on records of transaction of these branches where the maximum amount of old notes have been deposited or huge cash has been deposited in one go.

Demonetisation was announced on November 8, banning all 500 and 1,000-rupee notes, which are supposed to be deposited with banks by December 31, as stipulated by the Government.

The Government said the move has been taken to wage a war on black money holders.