IT authorities have found that six cooperative banks in six cities of Maharashtra did not disclose deposits as mandated following demonetization, reports Times of India.
Investigation revealed that Rs 1,000 crore of cash deposits were under-reported by these banks in Pune, Aurangabad, Ahmednagar, Kolhapur, Nashik and Thane.
Banks are required to report cash deposits of Rs 12.5 lakh and above in current accounts and Rs 2 lakh and above in accounts like savings bank accounts and fixed deposits. The department did not reveal the names of the banks.
