UP polls: IT squad seized bank cash from ATM vans

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Uttar Pradesh
New Dehi, Jan 14: The Income Tax's flying squad had on last week seized two ATM vans with nearly Rs 13 crore cash belonging to two private banks in the poll-bound Uttar Pradesh. Citing the incident, the Election Commission of India has on Saturday, Jan 14 issued a noticed to Reserve Bank of India (RBI) to enquire the two large private banks that for whom the ATM vans were transporting cash. Moreover, EC also asked banks to produce bank scrolls explaining the cash movement.

Meanwhile, IT officials has been closely tracking the case as the banks had not come forward to provide any details of the seized money from two ATM vans. An EC source said that, they have doubts of fake Indian currency notes (FICN) being used by politicians in electioneering in poll-bound states, including UP.

Furthermore, the EC has requested RBI to strictly enforce its guidelines where it is mandatory for banks to seal all cash consignments leaving the banks and a bank official should always accompany the cash with keys for the cash boxes to be in his possession.

An IT official said that, in last week's seized vans, the lone driver had the keys of the cash box and even this was not properly sealed. EC fears that drivers can put either fake currency or unaccounted cash to be delivered to undisclosed recipients.

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