Huge deposits of banned notes in Salem District Central Cooperative Bank

A 16-member team from the IT department in Coimbatore and Salem began the raid for the second day from 6 p.m. on Thursday. A total of 380 primary cooperative credit societies in Salem and Namakkal districts are attached to the Salem District Central Cooperative Bank. It is learnt that 41 of these banks attracted deposit of more than Rs. 10 lakh each in demonetised currencies till December 10. 

The IT officials conducted a inquiry on the accounts of these 41 societies. It is learnt that the raid in Salem was conducted in connection with the highways department contracts that were awarded to Shekar Reddy. Sources said that Ilangovan is attached to the AIADMK and is also the Jaya Peravai president of Salem City.