Madurai

Have details while transporting cash for ATMs: IT officials tell bankers

Giving clear instructions to bankers and their representatives to give sufficient details while carrying cash to ATM outlets in armed vehicles, the officials from the Department of Income Tax and the District Election Officers said that any incomplete information would lead to seizure of the money.

Many of the Collectors in the southern districts presided over a meeting in which the bankers, officers from the Department of Income Tax, Treasury department and from the Election Wing attended.

The Collectors instructed the bankers to ensure that the particulars on the volume of cash despatched for the ATMs were clearly mentioned including the vehicle number, identity of staff, the intended ATMs on any given day for which the money was being transported and among others.

As per the guidelines of the Election Commission of India, in a bid to curb any malpractice during the Model Code of Conduct in force, the bankers were also told to submit daily reports on cash transactions above ₹10 lakh. Similarly, those accounts which were considered as dormant, but suddenly received deposits above ₹ 1 lakh shall be closely monitored.

The Collectors also held meetings with printing press owners and gave instructions to ensure that the material and the matter to be printed had the stamp of approval from the authorities concerned in the Collectorates.

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Printable version | Apr 23, 2021 12:51:29 PM | https://www.thehindu.com/news/cities/Madurai/have-details-while-transporting-cash-for-atms-it-officials-tell-bankers/article33982299.ece

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