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318 accounts opened in Indore Swayamsidh Bank post-demonetisation

10:13 AM May 30, 2019 | Free Press Journal Correspondant

BHOPAL: After a raid conducted by the income-tax department at Indore Swayamsidh Nagrik Sahakari Bank, it came to light that 318 accounts were opened at the bank after demonetisation. They included 254 saving accounts, 52 bank saving accounts of the members, one institutional saving account, 8 current accounts and three daily saving accounts.

There was a transaction of more than Rs 1.37 crore in 269 of these accounts. The team of the I-T department also sought information about transactions of more than Rs 50,000.

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The bank has 5434 members, mostly women of middle and lower classes. The I-T department has been collecting information about transactions after demonetisation in various cooperative banks across the country.

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