A whopping Rs 266 crores of unaccounted money was allegedly seized by the CBI in a major raid on the Malappuram District Cooperative bank in Kerala on Thursday. The amount was reportedly deposited in the bank without proper documentation.
A major chunk of the money is said to have been deposited in the bank between November 10 and 14 this year. As per sources, it is however yet to be confirmed that the seized cash is indeed black money, until closer scrutiny of the same.
The CBI has asked the bank to submit all the requisite documents and details of the said account holders. There were also reports that the particular cooperative bank had violated rules with regard to the maximum limit of money deposits that could be accepted by the bank.
Though there were no official statements released by the CBI in this regard, various news reports say that the money was credited in the bank through the accounts of a few other cooperative societies.
Meanwhile, Kerala Cooperation Minister Kadakampally Surendran on Wednesday condemned the raids conducted on various cooperative banks in the state on Wednesday. Speaking to the media, the Minister insisted that such raids are intended to destroy the cooperative sector in the state.
The CBI had conducted raids on both Wednesday and Thursday on numerous cooperative banks in Kerala. But official details of the same are yet to be released by the central investigating agency.