Hyderabad: With the model code of conduct for elections in force, district collectors directed banks to submit details of suspicious transactions over Rs 1 lakh, with those above Rs 10 lakh especially under the scanner, by taking the assistance of the National Payments Corporation of India (NPCI), an umbrella body for retail payments and settlements.
The NPCI is an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA), officials said.
Further, the district collectors sought daily reports on such transactions from the banks.
Nalgonda collector R.V. Karnan on Wednesday conducted a meeting with bankers as per the directions of the Election Commission of India (ECI) and directed banks to report transactions above Rs 10 lakh to the district authorities and income tax (I-T) department on a daily basis.
“Suspicious transactions above Rs 1 lakh are to be reported on a daily basis. Contesting candidates’ accounts are to be opened without delay and those accounts should be monitored. Accounts having multiple transactions under UPI should be monitored and reported to district authorities,” Karnan told bankers.
Bank staff should carry proper documents and ID cards while they carry cash from one branch to another or ATMs. They were also directed to give prior information to local police stations. If ATM vendors carry cash which is not related to the bank, then the banks concerned will be held responsible.
The ECI would keep a strict vigil over illicit online cash transfers through wallets during elections. Zero tolerance towards the use of money power and strict vigil over suspicious online cash transfers through wallets have been mandated under poll rules.
