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Huge cash withdrawals in Karnataka, Andhra, Telangana under lens

Thu, Apr 19, 2018, 11:00 AM
Officials of the Income Tax department have conducted raids at 35 places in Karnataka and parts of Andhra Pradesh as part of a drive to smoke out cash hoarders, even as the government and RBI moved to pump in funds into some of the states facing a currency crunch. According to reports, more raids will be conducted in the next few days. The IT officials found a large number of withdrawals in Karnataka, Telangana, Andhra Pradesh and Bihar. One of the reasons attributed to cash shortage is that money is being pumped into poll-bound state of Karnataka.
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