This story is from January 20, 2022

Banks told to keep eye on suspicious transactions

To prevent illegal use of money in the election, the district administration has asked banks to notify them about suspicious transactions done during the election period.Additional district magistrate (ADM) east KP Singh held a meeting with bank officials in the city on Wednesday.
Banks told to keep eye on suspicious transactions
Lucknow: To prevent illegal use of money in the election, the district administration has asked banks to notify them about suspicious transactions done during the election period.
Additional district magistrate (ADM) east KP Singh held a meeting with bank officials in the city on Wednesday.
He said that all the candidates contesting elections will have to open a separate bank account for elections and if any candidate deposits or withdraws any amount greater than Rs 10,000, banks will have to notify the administration.

Furthermore, bank officials will observe all accounts of the relatives of candidates during the election period.
Singh asked bank officials to keep a proper record of cash being taken to ATMs and teams transporting cash will have to keep a photo ID card all the time. If any suspicious transaction is done, banks need to report it to administration and all the transactions above Rs 10 lakh will be reported to the Income Tax department as well.
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