M’lore: LS Polls expenditure Overseer advises Banks to keep Tab on Banking Transactions

Media Release

Mangalore, 22 Mar 2014: The electioneering commission (EC) LS polls expenditure overseer Dr Shanteshwaraswamy advised the banks to keep tab on banking transactions involving huge transactions as the Model Code of Conduct is in force for the upcoming general elections.
 
Dr Shanteshwaraswamy was addressing the gathering of officials from banks, customs and income tax department during the meeting held at Deputy Commissioner’s office here on Friday March 21, at the sideline of upcoming LS polls.
 
Sr Shanteshwaraswamy further said that the banks had to inform the details of banking transactions exceeding a minimum of Rs 1 lac on daily basis.  They ought to keep tab on RTGS also, said Dr Shanteshwaraswamy.  He cautioned the banks to report suspicious withdrawals of money and deposits.

 

 
The elections should be fair and all the departments had to collaborate without any lapses, added Dr Shanteshwaraswamy.
 
Deputy Commissioner (DC) A B Ibrahim said that the EC has set the limit up to Rs 70 lac as LS poll expenses per candidate and they got to maintain a separate bank account in this regard.  The bank accounts of candidates and their relatives had to kept tab on their banking transactions, advised DC Ibrahim.  
 
DC Ibrahim further said that private enterprises are outsourced to load cash in different ATMs by most of the banks, while they got to be restrained in coming into contact with third parties, cautioned DC Ibrahim.
 
ADC Sadashiv Prabhu, deputy divisional officer Dr Prashant, municipal commissioner Ajit Kumar Hegde, Manjunat Shetty and others were present on the occasion.