No complaint yet on illegal currency exchange at BoM

Aurangabad: The Latur police are awaiting a formal complaint from the authorities of a nationalised bank to carry out a detailed probe into the alleged exchange of demonetised currency notes worth lakhs with new ones.
Four staffers of the bank were suspended for allegedly indulging in the illegally activity.
On Wednesday, Latur superintendent of police Shivaji Rathod said, “The bank authorities have so far not lodged any complaint.We are keeping an eye on all the developments related to the case. A case will be registered soon after we receive a complaint. A probe would be ordered and monitored at the senior level.”
Another officer said in case the bank authorities refuse to lodge a formal complaint, the police may even seek legal opinion on becoming the complainant in the case.
In a first of its kind case since demonetisation, four employees of the Udgir branch of Bank of Maharashtra (BoM) were suspended for exchanging scrapped currency notes worth Rs 19 lakh with new ones by bending RBI rules.
According to sources, the four bank employees provided the above-mentioned cash to an Udgir-based trader without recording the transaction, against a commission of 30%.
“They instead made entries in other customers’ names and accounts, including the newly-opened ones,” a source said.
After the incident came to light, a team of special auditors from Pune have reached the town and are said to be scanning all the transactions since demonetisation came into effect on November 9.
District collector Pandurang Pole told TOI, “The audit is under way, with every transaction that has been carried out by the branch is being scanned. Depending on the findings, the decision to register an offence will be taken soon.”
District authorities said that in addition to the state government, the RBI too has sought a report into the entire incident that has raised serious questions on the integrity of bank staffers.
The bank authorities, however, refused to comment on the issue.