Karol Bagh branch of HDFC has been tracked by the Enforcement Directorate for suspicious cash deposits of about Rs 100-150 crore.
After this bank official surveyed various accounts in the bank based on a tip-off from the Financial Intelligence Unit (FIU). After checking the accounts some accounts were found having transactions of 30 crores been transferred to the beneficiaries between November 8 and 25, who are being suspected to be 'entry operators'.
"Entry operator" is a term used by the investigating agencies to refer to the individuals and hawala dealers who create shell companies, open bank accounts on fake addresses, deposit huge unaccounted income in their accounts and layer it with circular transactions in multiple accounts before the money is finally transferred to the beneficiaries.
"We last week received from them (ED) what seems a routine inquiry pertaining to a certain transaction that we had reported to the FIUas per law. We are in the process of furnishing the information sought by the ED." said HDFC Bank spoke person when asked about the ED survey
At least Rs 100 crore went out of the bank and into the accounts of beneficiaries in two weeks after demonetisation was announced onNovember 8.