http://articles.economictimes.indiatimes.com/2013-10-30/news/43528981_1_money-laundering-urban-cooperative-banks-new-delhi
NEW DELHI: Urban Cooperative Banks (UCBs), which hold deposits of over Rs two lakh crore, are being misused for money laundering causing alarm to the government.
The matter of misuse of UCBs, over which there is dual control by central or state governments through multi-state cooperative societies or state cooperative societies, was discussed during a a recent meeting of Economic Intelligence Council (EIC), chaired by Finance Minister P Chidambaram.
The matter of misuse of UCBs, over which there is dual control by central or state governments through multi-state cooperative societies or state cooperative societies, was discussed during a a recent meeting of Economic Intelligence Council (EIC), chaired by Finance Minister P Chidambaram.
