Madhya Pradesh police are investigating the Rs 110 crore scam in the state’s cooperative banks in the post-demonetization period, reports Hindustan Times.
Police officials are quoted saying they have begun investigations based on complaints that old notes were deposited in cooperative banks by opening new saving accounts, and later transferring them to other banks.
The three district cooperative banks in Bhopal, Gwalior and Sagar are under investigation as most of the money was deposited in these banks, say police officials.
It is worth mentioning that demonetization had been announced by the Modi government in November, 2016.