labels: companies (banking)
Bank officials come under RBI glarenews
10 October 2001

Mumbai: The Reserve Bank of India (RBI) has asked all scheduled commercial banks to provide details of shares purchased and sold by bank officials between September 1999 and April 2001, along with the copies of the officials bank accounts during this period.

This information, to be provided for all officers from the rank of manager and above, is being sought in order to probe into a possible nexus between bank officials and brokers during the scam period.

The banks have also been asked to submit details covering value and volume of buy and sell in respective stocks of the trading settlement together with computer printouts of the ledgers of their respective bank accounts.

The RBI has also asked for the names, addresses and respective membership details of the concerned exchanges of the relatives like sons or daughter of the bank officials who were involved in the business of share-broking during this period.

It is not known whether the RBI has taken this step on its own instance or as per the instructions by the joint parliamentary committee, which is probing the scam.

 

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Bank officials come under RBI glare