Unauthorised banking institution raided

7 September 2011 08:01 am Views - 5632

Two former bank managers were taken into custody and cash deposits amounting to Rs.8.4 million seized during a raid on an unauthorised monetary institution similar to a bank. Inquiries revealed that the day’s transactions of the monetary institution exceeded Rs.30 million and that it had customers in several countries including India, Canada, England, Japan, and Switzerland.