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Govt probes suspicious financial transactions

New Delhi,Dec 3, 2012 PTI:

 A multi-agency team will soon begin probe to check suspicious transactions into country’s financial market.

Official sources said sleuths from Intelligence Bureau and Central Economic Intelligence Bureau among others will look into various aspects of suspicious transactions and ways to check it.

The move comes in the wake of reports of instances of routing of terror funds in the country’s stock market tracked by intelligence agencies.


They cited misuse of Participatory Note (PN), a derivative instrument issued in foreign jurisdiction by a FII against underlying Indian securities to some people to route illegal money into the country’s financial system.

They said the quantum of suspected transactions in the stock market is not worrying and many steps were being taken by Sebi to ensure safe and transparent trading.

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