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Demand draft controversy takes a new turn

Controversy over issuance of demand drafts to Trinamool leaders by two leading PSU banks, which allegedly violated RBI guideline, took a new turn on Monday HT reports.

Updated on: May 10, 2011 02:53 PM IST
Hindustan Times | By , Kolkata
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Controversy over issuance of demand drafts to Trinamool leaders by two leading PSU banks, which allegedly violated RBI guideline, took a new turn on Monday.

HT Image
HT Image

The trade union lambasted chairman and managing director of Allahabad Bank JP Dua for his comments that there is nothing wrong in issuance of DDs worth over Rs 50,000 against cash payment.

Speaking at a news conference on Monday, Bank Employees' Federation of India boss, Pradip Biswas, said that besides the five drafts worth Rs 1.23 crore from UBI and two drafts worth Rs 10,000 from Allahabad Bank, which were already highlighted by the Left Front, both these banks underwent several other similar issuances of drafts.

He said that in April this year, the Red Cross Place branch of Allahabad Bank issued 10 demand drafts (numbers from 005739 to 005749) of total worth Rs 5 lakh against cash payment on a single day to the same person who signed in different names. "The beneficiary is a single organisation, M Power Global Access India. Of the 10 drafts, nine were valued at Rs 49,000 each while one draft was valued at Rs 10,000," he said.

Again in the same month, Biswas said, the Lalbazar branch of UBI issued 20 demand drafts worth Rs 4,95,000 to M Power Global Access India.

 
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