A scandalous amount of about two thousand crore rupees was deposited in scores of cooperative banks across Karnataka immediately in the days following demonetization, reports Deccan Herald.
Cooperative Department officials have yet to offer a convincing explanation.
A source says the entire co-operative sector in the state is run by politicians and their close family members.
However, dept officials claim the Reserve Bank of India (RBI) had initially not made it mandatory for people to disclose their Permanent Account Number (PAN) for depositing money in co-operative banks.
