The Chairman of Delhi based UCB Jamia Cooperative Bank M.Q.H.Beg has denied any hanky-panky in the working of the ank in the wake of demonetization.
Referring to the raid in the UCB by Income Tax officials , Beg argues “We are first in Delhi Capital Region to installed Anti Money Laundering software in our bank and not indulged in this matter”.
He admitted that during the scrutiny of these accounts Income Tax sleuths found deposits of Rs 126 crore in 70,000 account holder where 298 accounts were opened at the time of Demonetization and deposits were also made in 540 dormant accounts about 50 thousand rupees , said bank chairman M.Q.H.Beg.
Jamia Cooperative Bank is the second largest UCB in Delhi-NCR after Kangra Cooperative Bank.
Beg himself seems to suspect a few accounts in which unusual account activities were seen. He names in particular 11 such accounts of businessmen. Recently, the Batla House, Sarai Jullena, Abul Fazal Enclave and Josal branches of bank were raided by Income Tax department officials.
Earlier the bank was in news when Imtiaz Alam, one of its customers was given Rs 20,000 in coins, as the Jamia Cooperative bank in Jasola was running low on cash. The money which weighed 15 kg caught attention of media headlines.