27 bank officials suspended for violative activities post-demonetisation

New Delhi, Dec 2 (IANS) As many as 27 public sector bank officials were suspended and six transferred for carrying out violative activities post-demonetisation, an official statement said on Friday.

“Some cases have come to notice of officials involved in carrying out transactions which were irregular and violative of Resrve Bank of India’s instructions,” the Finance Ministry said in a statement.

“Action has been taken in such cases and 27 officials of various public sector banks have been placed under suspension and six officials have been transferred to non-sensitive posts,” the statement said.

While all efforts are being made to facilitate genuine transactions, illegalities will not be tolerated and appropriate action will be taken against individuals involved in irregular and unauthorised activities, it said.

The ministry also lauded the long hours of work put in by bank officials in managing transactions, after the demonetisation of Rs 500/1,000 notes was announced from November 8 midnight.