In a terse reply under RTI , RBI has admitted that it has no details of irregularities or scams in the exchange of demonetised currency notes indulged in by cooperative banks, says IANS.
Six days after the demonetisation, the govt. had abruptly overturned its decision to permit note exchanges and disbursing new currency notes because of alleged money-laundering being carried out by state and district cooperative banks.
The decision had triggered a political uproar as it had meant farmers, rural and semi-rural populations being denied banking services by cooperative banks.
A source is quoted as claiming the decision on the most networked financial institution was taken on mere ‘hearsay’.