In a major crackdown on bank employees involved in irregularities post-demonetisation, the Government on Friday suspended as many as 27 senior officials of various public sector banks (PSBs) and transferred six others.
The move of the Government comes at a time when reports of Income Tax authorities conducting search and seizure in many places. In one of such raids, Rs 5.7 crore cash in new currency notes was recovered from two businessmen in Bengaluru. Some other cases have also come to notice of officials involved in carrying out irregular transactions in violation of the guidelines of Reserve Bank of India (RBI), according to the Finance Ministry statement.