100 Co-op Banks under ED lens

The ED has written to about 100 cooperative bank branches across the country seeking details about activities in their dormant accounts and other suspicious transactions as part of its black money probe post demonstration, reports PTI.

Officials said the agency has sought details from these banks after it got reports about suspicious activities of some huge transactions being reported from the bank accounts in these branches.

They said the Enforcement Directorate is probing these cases for possible contravention of the Foreign Exchange Management Act (FEMA) and the Prevention of Money Laundering Act (PMLA).

They said the agency had written to about 80 branches of cooperative banks in various states in the first stage of its probe.

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