The Enforcement Directorate (ED) carried out searches at over 50 branches of various banks to probe large scale fraud in exchange of demonetised notes.
As reported by The Hindu on Wednesday, the agency had received information on suspicious transactions running into hundreds of crores, post announcement of demonetisation on November 8. The Income-Tax Department has also forwarded over 30 cases of suspected money laundering to the ED for further investigations.
In coordination with bank auditors, several teams of the Directorate are conducting searches in Delhi, Mumbai, Goa, Jaipur, Kolkata, Patna, Lucknow and other major cities.
ED Director Karnal Singh has also issued instructions to the teams not to hinder the usual banking operations while conducting the probe.
