IC misappropriation: DRI summons bank branch managers
KATHMANDU, JAN 23 -
The Department of Revenue Investigation (DRI) has summoned branch managers concerned of nine commercial banks through which Indian currency was transferred to India against fake customs clearance documents.
According to DRI officials, as the managers were responsible for verifying the documents, the department called them for interrogation. The department has confirmed misappropriation of IC worth Rs 1.24 billion.
“As the banks concerned failed to abide by the ‘Know Your Customer (KYC) norms’, we called the branch managers to face our questions,” said a DRI official.
A high-level probe team headed by an NRB deputy governor has also concluded that the banks concerned did not abide by the KYC norms. The probe committee is yet to submit its report.
According to DRI officials, the banks’ employees have also been asked to attend at DRI for interrogation in order to collect evidences for filing cases against the culprits. The department has arrested some individuals involved in the fraud.
Among the firms found involved in the scam are Maxwell Computer, Shyam Galla Bhandar, Jaya Mata Di International, Digital World, GS Traders, Jaya Baba Amarnath, Gangotri Galla Bandar and Nitesh Brothers.
According to the probe committee, the IC was transferred to India with a motive to sell them in bordering markets at high exchange rates. Black marketers charge as high as Rs 165 per IRs 100, where as the actual exchange rate is at Rs 160 per IRs 100. Meanwhile, Ashoke Rana, President of the Nepal Bankers’ Association, visited DRI on Sunday to take stock of the matter. Rana refused to comment about his visit, but DRI officials said he sought information about the case, saying that the banks were worried about the consequences. “We told him that we are investigating the matter now and have called the branch managers as a part of the investigation,” the source said.
As per the Foreign Exchange Regulation Act, the culprits could be slapped with fines equivalent to a maximum of three times of the misappropriated amount.
Source: Kantipur
