Karnataka co-op banks have also caught up with other states so far as laundering black money is concerned. Enforcement Directorate officials found deposits totalling over Rs 500 crore in a crackdown on District Cooperative Central (DCC) banks across Karnataka.
Bagalkot District cooperative bank with its deposits of Rs 162 crore was the worst offender, reports Times of India.
Interestingly, the management of Bagalkot DCC involves politicians from both Congress and BJP.
Similarly, when IT men inspected the Belagavi Cooperative Bank it found huge deposits. This bank too is managed by politicians. Sources say, it is abundantly clear that politicians have used DCC banks in a big way for laundering their black money.