New Delhi: Action has been taken against 33 officials of state-owned banks who were found violating norms laid down by the Reserve Bank of India in the aftermath of demonetisation of high-value banknotes. “Some cases have come to notice of officials involved in carrying out transactions which were irregular and violative of RBI’s instructions,” said a finance ministry statement. “Action has been taken in such cases and 27 officials of various public sector banks have been placed under suspension and 6 officials have been transferred to non-sensitive posts,” the statement said. The finance ministry warned that illegalities will not be tolerated and appropriate action will be taken against individuals involved in irregular and unauthorized activities. Some cases have come to notice of officials involved in carrying out transactions, which were irregular and violative of the Reserve Bank of India’s (RBI) instructions, the finance ministry said in a statement.

Source: Mint December 02, 2016 14:16 UTC