Cooperative banks have been barred by the government from accepting deposits under new tax amnesty scheme PMGKY. (File Photo) Cooperative banks have been barred by the government from accepting deposits under new tax amnesty scheme PMGKY. (File Photo)The government has barred cooperative banks from accepting deposits under the new tax amnesty scheme PMGKY, a move that comes amidst the Income Tax department uncovering anomalies post demonetisation. But now cooperative banks have been barred from accepting such deposits. The amendment to the notification comes after the I-T department spotted irregularities in deposits of cooperative banks following demonetisation.

Source: Indian Express January 20, 2017 12:36 UTC