Flying squad seizes Rs 1.70 cr bank cash

Stringent checks by Election Commission to curb use of money in Lok Sabha polls has caught even a nationalised bank on the wrong foot with a flying squad seizing Rs 1.70 crore meant for ATMs as it was carried without proper supporting documents and permission.
Salem RDO Leelavathy said an election flying squad intercepted a van at the foothills of nearby Yercaud and found Rs 1.70 crore cash in an iron chest.
Two occupants of the van told the officials that the cash belonged to the State Bank of India and was meant for depositing in ATM centres in the district.

They said actually they were handed over Rs 3.92 crore for filling 70 ATMs and had already completed the work in 30 ATMs.
However, as they could not provide documents necessary for transport of such huge cash, officials seized the amount and informed Income Tax authorities.
Top bank officials were in touch with the election and I-T authorities to reclaim the cash, officials added.
Election officials said even for transporting cash for ATMs, there was a protocol to be followed and prior permission should be obtained.