Large-scale unusual cash deposits in bank branches located near India’s border areas came under scrutiny at the National Security Strategies (NSS) Conference of the Intelligence Bureau (IB) last week, with Union home minister Amit Shah learnt to have directed security agencies to closely examine these transactions and keep a watch on such activity, highly placed officials told HT.
The two-day conference was held in Delhi on August 24 and 25 and was attended by 850 officers from across the country, including the directors general of police (DGPs) of all border states.
“A key issue that came up during the conference was large-scale, unusual cash deposits over a period of time in certain bank branches near border districts, much more than seen previously. There is a concern, and efforts are on to ascertain whether these deposits, as well as foreign remittances from bank branches near the borders, have any anti-India dimension,” said an officer familiar with the discussions, requesting anonymity.
Among the areas where intelligence agencies have been asked to maintain a close watch are India’s western border, West Bengal, Uttarakhand as well as the border states in the Northeast.
The officials declined to go into the specifics due to security reasons.
{{/usCountry}}The officials declined to go into the specifics due to security reasons.
{{/usCountry}}The development comes against the backdrop of a nationwide verification exercise launched by the Income Tax Department on August 18 to examine several foreign remittances. The exercise focused on shell entities, the people behind them and professionals who issued Form 15CB certificates for the remittances. Chartered accountants issue such certificates.
The department covered approximately 394 entities, including 117 located in states along India’s land borders, as well as 36 professionals. It found that entities making these remittances were either non-filers or were filing income-tax returns showing very small turnovers. Besides, there was no apparent correlation between their reported turnovers and the large amounts of money being remitted abroad, according to a second officer.
The parallel scrutiny of financial transactions in border areas has raised concerns among security agencies over whether such activity could be linked to networks operating against India’s security interests.
Earlier, in June this year, while chairing a meeting in Tripura to discuss border-related issues, Shah had said that ensuring financial discipline in the border districts is also the responsibility of the states. He had directed that collectors and GST officials be trained, and that the Central Board of Direct Taxes (CBDT) conduct a survey on fake currency.
While calling for sharp vigilance on financial transactions along the borders, Shah said in June that authorities should keep an eye on the construction of big buildings, and the sale and purchase of properties. He further directed that an examination of the land records of the last five years should be conducted.
The NSS conference, according to officials, also discussed cybercrimes and best practices of states like Telangana in dealing with such crimes.
The home minister said at the conference that infiltrators pose a threat to the country’s security, economy and demographics.
“This country is not a dharamshala (charitable rest house); only citizens of the country have the right to live here,” Shah said on August 25.
Stressing that infiltrators pose a threat to the country’s “security, economy and demographics,” he said: “Over the past eight months, after visiting all states sharing land borders, we have shared a document outlining a four-pronged approach to border security with the states. Our goal is to make the country free of infiltrators in a very short period.”