HYDERABAD: Highlighting the corrupt practices bankers might resort to in the given situation, the Saroornagar police have booked two Syndicate Bank employees for exchanging Rs six lakh demonetized notes without furnishing any ID proof.Police have booked Radhika , a cashier, and Mallesh , a clerk, both employees of Syndicate Bank's Kamala Nagar branch in Saroornagar, for the lapse.On Sunday afternoon, Syndicate Bank's Kamala Nagar branch manager Narsaiah lodged a complaint with the Saroornagar police alleging that two of his colleagues resorted to an illegal practice on Saturday by exchanging Rs six lakh demonetised currency without furnishing any proof of the customer."Mallesh handed over Rs six lakh demonetised currency to Radhika and without collecting any ID proof, which is mandatory in case of cash exchange, she handed him over the new currency," Saroornagar inspector S Lingaiah said.As per the Reserve Bank of India (RBI) guidelines, each individual could exchange only Rs 4,000 demonetised cash a day by furnishing a government-issued ID proof like Aadhaar or PAN card. However, Radhika colluded with Mallesh and issued him Rs six lakh new currency without any ID proof after collecting the demonetised currency notes from him.The bank officials came to know...
News Source: http://timesofindia.indiatimes.com/city/hyderabad/Two-bankers-booked-for-illegal-exchange-of-demonetized-cash/articleshow/55404895.cms