AHMEDABAD: There is something more than that meets the eye with financial transactions in the state. According to a recently released report buy union finance ministry’s Financial Intelligence Unit (FIU), Gujarat has generated the fourth highest number of reports relating to dubious banking transactions in the last four financial years in the country.
Out of the total 17,209 dubious transactions reported across India in four financial years from March 2006 to March 2010, Gujarat accounted for around 1,032 or 6 per cent of the country. However, the only silver lining is that the state is way behind Maharashtra, which leads the pack of such transactions with 29 per cent, Delhi with 12.1 per cent and West Bengal with 7.3 per cent.
FIU is a national agency for receiving, analyzing and disseminating information relating to doubtful financial transactions. The suspicious transaction reports (STR), Cash Transaction Reports (CTRs), Counterfeit Currency Reports (CCRs) and Non-Profit Organisation Transaction Reports (NTRs) are sent to the FIU by different financial institutions. These reports help in a big way to crack down on black money and money laundering racket and financial scams in the country.
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