Sting ops held in bank branches: 400 CDs sent to Finance Ministry

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demonetization After conducting sting operations in 500 bank branches in the country, many CDs of the sting operations have been sent to the Union Finance Ministry and action against guilty bank officers would be taken soon.

Ever since demonetisation announced on November 8, several wrongdoings by officers to help hoarders of black money have been reported. While many bank officers have been arrested, some of them have been suspended and are facing probe.

Prime Minister Narendra Modi had hinted about sting operations while addressing a meeting at the inauguration of Amul unit in Deesa, Gujarat on December 10.

Demonetisation is needed to make the country free of corruption. People who ran away with bundles of cash are going to jail. All of them will be arrested, no one will be spared. Whoever has sinned after November 8 won’t be spared.

Revenue Intelligence Bureau sources said people would not have faced so many problems had the banks conducted themselves in a transparent manner.

According to reports, more than 400 CDs of sting operations have reached the Finance Ministry . The CDs show how the old notes of police, pimps and influential people were exchanged with bank staff’s help. The list of banks under scanner include several public sector banks.

The light action against bank staff is part of the government’s strategy. The government will launch a full-scale attack against guilty officials once the situation normalises.

Meanwhile, students in Nashik on December 10 organised street plays near crowded ATMs and bank branches to drive the message about the advantages of demonetisation drive home. Appealing to the people to shift towards cashless transactions, a Marathi staged by the students, spoke about the need of demonetisation, its long-term advantages and suggests solutions to overcome cash crunch.