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Social activist from Aurangabad demands transparency in bank locker system to crack down on black money


A city-based social worker today said that he has written a letter to Prime Minister Narendra Modi suggesting to make changes in existing bank locker system as people could have hidden huge amount of black money and other valuables in their bank lockers after demonetization. Addressing a press conference here, social worker D S Kate, who is a civil engineer by profession, said that after demonetzation of old currency, people have found out new ways to store huge amount of black money including large scale of gold into their bank lockers which, he believed, could be the greatest obstacle for Indian economy.

To prove his point, he cited examples of a recent seizure of cash of Rs 10 crore in new currency notes from a branch of Bank of Maharahstra in Pune as well as the theft of valuables from the Gohana branch of Punjab National Bank in Sonepat district of Haryana in 2014 when robbers cleaned up 77 bank lockers.

Taking (dis)advantage of this system, he claimed that people were allegedly depositing illegal cash and gold in their lockers, as bank officials are not entitled to check the belongings of customers. Mr Kate said, ''In view of such situation I have already written a letter to the Prime Minister suggesting to make five changes in present locker system in the banks.''

A copy of that letter has also been sent to Union Finance Minister Arun Jaitley, Reserve Bank of India Governor Urjit Patel and chief general manager of RBI, he informed. In the letter, he has suggested to scan the articles before being deposited in the lockers and allow bank officers to check the contents to be deposited in lockers, to keep record of the valuable documents and articles or sources of income with bill as well as the weight and size of the things, not to allow deposits of heavyweight valuables like gold and silver if they do not have a legal bill, income-tax returns should be filed in bank's name, number of lockers belonging to the locker holder and the bank should insure the goods deposited in lockers, Mr Kate said and added that these suggestions are useful to prevent hoarding of black money and they would help the Indian economy to achieve greater heights.UNI

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