Demonetisation: 27 PSU bank officials suspended for voilating RBI rules

The ministry commended bank staff for putting in long hours but said some transactions were irregular and violated Reserve Bank of India instructions

Demonetisation: 27 PSU bank officials suspended for voilating RBI rules

The government on Friday suspended 27  public sector bank officials and transferred six others for alleged illegalities in the dispensing of cash and exchange of old notes.

A statement released by the Finance Ministry said some officials were found involved in carrying out transactions that were irregular and violative of the Reserve Bank of India’s instructions. “Some cases have come to notice of officials involved in carrying out transactions which were irregular and violative of RBI’s instructions,” said a finance ministry statement.


“Action has been taken in such cases and 27 officials of various public sector banks have been placed under suspension and 6 officials have been transferred to non-sensitive posts,” the statement said.

The ministry commended bank staff for putting in long hours but said some transactions were irregular and violated Reserve Bank of India instructions.

The finance ministry warned that illegalities will not be tolerated and appropriate action will be taken against individuals involved in irregular and unauthorized activities.