Legislation enforcement businesses (LEAs) investigating the funding facet of the protracted farmers’ protests have sought further particulars from banks beneath 4 heads — money, financial institution switch, debit card and foreign exchange — over and above what they’re already submitting per the Reserve Financial institution of India’s round on ‘Recording of Particulars of Transactions in Passbook/Assertion of Account’.
Further granular knowledge are being sought following a evaluate assembly lately carried out by the Central Financial Intelligence Bureau (CEIB) with the RBI, banks and LEAs on reporting of transactions in reference to investigations by central businesses, mentioned a banker.
By searching for further transaction particulars from banks, it seems LEAs — the Nationwide Investigation Company, the Directorate of Enforcement and the Intelligence Bureau — wish to examine the financial-backing facet of the protracted agitation.
LEAs need info on ‘Money-Credit score’ (self by way of money deposit voucher; by others by way of money deposit voucher and money deposit machine/CDM) and ‘Money-Debit’ (self by way of voucher, self-cheque, money withdrawal/POS debit, ATM/CDM withdrawal).
The businesses have turned the lens on “Financial institution Switch-Credit score and Debit” (by way of cheque/demand draft; on-line account-to-account inside identical financial institution; on-line transaction by way of fee gateways, NEFT, RTGS, UPI, pay as you go fee devices; IMPS; counter switch).
“Debit Card-Credit score” (card-to-card switch), “Debit Card-Debit” (POS, on-line buying platforms/different transaction platforms, card-to-card switch), “Foreign exchange-Credit score and Foreign exchange-Debit” (by way of cash switch service scheme/MTSS, on-line) may even come beneath the businesses’ scanner.
Per RBI round regarding “Recording of Particulars of Transactions in Passbook/Assertion of Account”, banks are already required to file a bunch of transactions, however the LEAs are searching for further particulars that aren’t being collected by the banks at current.