THIRUVANANTHAPURAM: The Income-Tax authorities have started slapping notices on cooperative banks that made huge deposits in other banks after the Centre announced demonetisation on November 8. According to sources, notices were already issued to two cooperative banks in Thiruvananthapuram that deposited over Rs 2 crore in other banks. While Avanakuzhi Service Cooperative Bank near Balaramapuram reportedly deposited about Rs 1.5 crore the Thonackal Service Cooperative Bank deposited about Rs 50 lakh.
Notices will be issued soon to a cooperative bank at Perumbuzha in Kollam and another at Mararikulam in Alappuza. The details of the sources of the funds and the list of depositors have been sought from the banks. A team of Income-Tax officials who visited the Thonackal Service Cooperative Bank on Thursday was prevented by some officials, it is alleged. However, a bank official told this newspaper that they were cooperating with the I-T inspections which were only normal.
Income-Tax sources said that the Centre has been monitoring all mysterious transactions after November 8 and instructions were given to the officials to verify the suspicious transactions. The individuals who made huge deposits of the demonetised notes in banks are also under the scanner. The banks have been regularly reporting the details of such persons to the Reserve Bank of India.
