Demonetisation: 156 senior PSB officials suspended, says Jaitley

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New Delhi, Feb 3: As many as 156 senior officials of various state-owned banks have been suspended and 41 transferred after they were found involved in irregularities related to demonetisation, Parliament was informed on Friday.

"Certain bank officials have been found involved in irregularities relating to demonetisation. On the basis of prima facie involvement in the irregularities, Public Sector Banks are so far reported to have placed 156 officials under suspension and to have transferred 41 officials," Finance Minister Arun Jaitley said in the Lok Sabha.

Finance Minister Arun Jaitley

PSBs are also reported to have filed 26 cases with Police/CBI wherever criminal cases are involved, he added.

In respect of private banks, Jaitley said: "Reserve Bank of India has informed that 11 employees have been placed under suspension where bank employees have been found involved in 'irregular exchange of transaction' of Specified Bank Note during the phase of demonetisation."

"RBI has further informed that the banks have initiated internal investigation and complaints have been filed with police/CBI," he pointed out.

RBI had advised the banks to take action to prevent the malpractices or wrongdoing by staff in branches exchange/deposit of SBNs. In the said circular, banks were also advised to strengthen the internal/concurrent audit process including random visits/scrutinies so as to detect and avoid any malpractice in the exchange/deposit of SBNs in the branches.

Following the decision of the government to demonetise old Rs 500 and Rs 1000 notes from mid night of November 8, people deposited invalid notes into banks.

PTI

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