Chennai: With central co-operative banks coming under the I-T radar for alleged large-scale deposits of invalid currencies, leader of Opposition M. K. Stalin on Sunday demanded that Chief Minister O. Panneerselvam constitute a high-level committee to probe into the alleged irregularities in the banks “trusted by the rural masses.”
In a statement, Mr Stalin also demanded that the presidents of the central co-operative banks in Salem and Cuddalore, searched by I-T sleuths last week, be sacked immediately to restore the image of the financial institutions.
“It is shocking to note that the Salem Central District Cooperative Bank, which had received President’s Award for best performance four times in the past, has come under the I-T radar. It is a known fact that people in rural areas trust these institutions and throng in huge numbers for all their financial transactions,” Mr Stalin said in the statement.
Quoting reports, the DMK treasurer said the banks were allegedly being used by “powerful politicians from the AIADMK” to convert their blackmoney. It was shocking to note that invalid currencies to the tune of several crores have been found at these banks at a time the co-operative banks were asked not to take up any financial transactions of demonetised currency, Mr Stalin said.
He also wondered how the banks accepted fixed deposits in the demonetised currencies. “Chief Minister O. Panneerselvam should constitute a high-level team to probe the irregularities in these banks that threaten the economy and sack the presidents of these banks to restore them to their past glory,” he said in the statement.
