Huge amount of cash flowing into banks ahead polls: IT


With elections knocking on doors, huge amount of cash had been reported to be flowing into banks, revealed the Income Tax Department’s regional office on Wednesday hinting towards a possible cash-for-votes scandal.

The information had been disclosed in the department’s press release after Rs. 1.8 crore had been seized Arunachal Pradesh CM’s convoy in Pasighat on Tuesday night.

As per the statement, during investigations it was found that there are possibilities of banks being used as conduits to hide and move suspicious cash. However, the data  is limited only to transactions involving five major banks in the region over the last 10 days.

“Even from this small sample, hundreds of suspicious cash deposits and withdrawals in banks for amounts over Rs. 10 lakh have come under the scanner. Inquiries have been initiated in about 200 cases so far,” said Income Tax (Investigation) Principal Director Sanjay Bahadur at a press meet held in Guwahati.

More than 150 officials have been stationed in various parts of the Northeastern region to look after 112 districts and 12 airports since the date of notification of the General Elections-201, informed Bahadur.

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