27 govt bank officials suspended, six transferred for violating RBI rules

New Delhi: Taking stringent actions over the irregularities in the banking post-demonetisation, the Central government on Friday suspended 27 officials posted at various public sector banks.

The Finance Ministry said that six officials have also been transferred who were allegedly involved in transactions violative to the guidelines of Reserve Bank of India.

RBI had conducted various surveys at different banks to ensure - right to privacy, right to fair treatment & transparency, fair and honest dealing, right to suitability and right to grievance redress and compensation.

Finance Minister in a statement said, "Illegalities will not be tolerated and appropriate action will be taken against individuals involved in irregular and unauthorised activities."

The statement added, "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."

It may be mentioned that Income Tax department had on Thursday conducted raids at various premises in Bengaluru, Chennai and Tamil Nadu and seized over Rs 4cr in new currency. Tax authorities have suspected involvement of bank personnel in stashing of new currency in bulk post demonetisation.