Money & Banking

UBI transfers officials over TC draft issue

| | Updated on: Apr 29, 2011

The United Bank of India has transfered two of its senior officials after the Election Commission asked it to explain issue of drafts, payorders to the Trinamool Congress violating banking norms. The bank's Chairman and Managing Director, Mr Bhaskar Sen, termed it as “administrative transfer.”

Mr Sen said that the two officials are a Kolkata south chief regional manager and an assistant general manager based at the headquarters here. He said the reply to the EC would be sent within the deadline of April 29. The EC had on April 27 sought explanation from the bank asking about issue of payorder/draft to Trinamool Congress to of Rs 1.23 crore.

However, a top bank official not wishing to be quoted said it had been a ‘procedural lapse' on the part of the bank as it cannot issue payorder/draft above Rs 50,000 in cash.

Similarly, the EC had sent notice to Allahabad Bank also for issuing draft/payorder of Rs 10 lakh to the Trinamool Congress for similar alleged violation of norm.

The Chairman of the bank could not be contacted for reaction.

Published on April 29, 2011

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