The Chennai District Election Office has identified suspicious transactions in some of the banks in the city.
“The district election office has asked to report transactions over Rs. 1 lakh. In addition to candidates’ accounts and political party accounts, officials have spotted other suspicious transactions this week,” said an official of a leading public sector bank.
All 1,000 branches of the 42 banks in the city commenced tracking of such transactions following a meeting with district election officials this week. As many as 17 of the banks that failed to report suspicious transactions started sending data this week after the district election office warned of action against the bank officials concerned.
“Income tax officials are tracing some transactions exceeding Rs. 10 lakh,” said an official of the district election office.
Unusual withdrawals and deposits of cash exceeding Rs. 1 lakh, without any such instance of deposit or withdrawal during the last two months, have been reported in some banks. A few banks have also reported unusual transfers of amounts by RTGS from one bank account to the accounts of several persons in a constituency without any precedent.
