EC to monitor transactions over Rs 1 lakh in poll-bound states

"To prevent illegal flow of cash the commission will monitor every bulk transaction exceeding one lakh after the election dates are announced" a senior election commission official said.
The measure is applicable in all the states having Assembly polls including West Bengal, Assam, Tamil Nadu, Kerala and Puducherry, he said.

"From the time of poll notification and till the declaration of results, the banks will have to send a daily report to the district election officer (DEO) or the returning officer (RO) furnishing the details of withdrawal of over Rs 1 lakh from any individual's account.
"If the DEO or the RO feels that the withdrawal is suspicious in nature, he/she would immediately report the same to the state election authorities and also to the top-most income tax officer in the district," the official said.

In case the transaction is traced back to any candidate, the IT department will initiate legal action as per provision of law.

"The rule will be applicable not only to the individual account but also to the NGOs and other oganisations," he said.The EC has directed the states to depute a nodal officer in the rank of an IG at the state level to oversee police action in case of such financial transactions

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