Weeks after the Narendra Modi government banned use of old Rs 500 and Rs 1,000 notes, many unscrupulous activities in the banking sector has come to the fore.


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The Enforcement Directorate and CBI on Thursday carried out raids at co-operative banks in different parts of Kerala.


ED conducted raids at Kannur, Kozhikode, and Thrissur while the CBI officials conducted inspections of records of district co-operative banks in Kollam and Malappuram.


These raids are being conducted to check the records of deposits after November 8.


After banning old 500 and 1,000 rupee notes on November 8, the government had allowed all of the cash holdings with any person to be deposited in bank accounts till December 30.


In perhaps the first case of a top bureaucrat being raided, the house and office of Tamil Nadu Chief Secretary was today searched by Income Tax officials who claimed to have recovered Rs 30 lakh cash in new notes and 5 kgs of gold besides getting "disclosure" about Rs 5 crore of unaccounted income.


With about 35 personnel of CRPF providing security, around 100 Income Tax sleuths, launched the raids as early as 6 am at 15 places, including the office and the residence of Chief Secretary P Rama Mohana Rao, his son Vivek and some relatives in Chennai and Chittoor in neighbouring Andhra Pradesh.


A top Income Tax official said Rs 30 lakh in cash in new notes and 5 kgs of gold were recovered during the raids.