Thiruvananthapuram: In a bid to scrutinise transactions and potential links with cooperative banks allegedly involved in black money activities, the Reserve Bank of India (RBI) has called a meeting with Urban Cooperative Bank representatives in Kerala. The gathering, scheduled for this Friday in Kochi, aims to gather additional information from the urban banks’ representatives.
The decision to hold the meeting comes in the wake of revelations tying two urban banks to the Karuvannur Cooperative Bank fraud. The Reserve Bank of India, taking the lead in the meeting, seeks to determine the extent of these connections and assess any involvement in illicit financial transactions, as highlighted in a report submitted by the Enforcement Directorate (ED).
The meeting will be presided over by a Chief General Manager appointed from the RBI Central Office. Attendees will include Chief Executive Officers of major urban banks in the state, as well as the chairman and office bearers of the Urban Bank Federation.
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