The Person Standing in the Queue to Withdraw Cash Can be a ‘DECOY Customer’ Sent by Government Agency!!

I-T officials have been conducting raids on offices and residences in several cities. They have recovered multiple crores of rupees in new notes. Now where do these new notes come from? The answer is simple; they come from some or the other bank of course.

What’s happening?

Private and nationalized bank employees are under limelight because of their malpractices since the last two weeks. According to a report published by the Times of India, employees from Syndicate bank, Oriental bank, HDFC bank, and Axis bank have been either arrested or suspended due to their involvement in malpractices since November 8.

Some arrogant cashiers, especially from nationalized banks, do not show respect for the common man. But show special courtesy while interacting with current account holders.

This is happening in every city. In fact, a current account holder who interacted on condition of anonymity with journalists claimed that a nationalized bank’s branch manager had alerted him and even assisted him while depositing his old notes worth lakhs. The person in question runs illegal lodge for bachelors in Pune’s Karve Nagar area.

Sources suggest that even automobile showroom owners in several cities are helping black money holders by accepting vehicle booking amount in cash and refunding their money in new notes after deducting their commission. Everyone knows that this is not possible without getting help and support from bank employees.

Where is all the cash going?

During the last five days, the RBI, and Finance Ministry has been issuing statements suggesting that there is enough cash available in all banks. They suggest more than 90 percent ATMs have been recalibrated. However, the situation on the ground level is different. Take Pune for example, some nationalized banks are not allowing customers to withdraw more than Rs. 2, 000 per day on cash counter, depending on the availability of the cash.

More than 90 percent of the ATMs in Pune are shuttered down since November 8. So, where is the money sent by RBI? Now the government has decided to tie its shoelaces!

Beware bankers!

Fun is over!!!

According to reports released this morning, various government departments, including the ED and I-T, are sending decoy customers at multiple bank branches to monitor suspicious activities. Sources also suggest that branches that report higher deposit amounts on a daily basis are under the lens.

Branch manager from a nationalized bank who interacted with Post Card News on condition of anonymity said that every branch is under the lens. People from I-T department can approach any branch manager and conduct audit about recent deposits received as well as payments made to account holders.

Reports also suggest that government agencies have conducted sting operation at various banks and finance ministry has received evidence against several bank officials in the form of videos in 400 CDs. Hope all the guilty officials face trial in fast track court to set an example.

 Nitten Gokhaley

The author is a consultant journalist; you can follow him on Twitter- Nitten4u