Bhatkal: Income Tax Department (IT) raided famous Urban co operative Bank of Bhatkal on 4th January and scrutinised Bank records for hours. It is said that they didnt find anything suspicious and had to return empty handed.

IT officers raided the head office of Urban Bank around noon on 4th January and scrutinised  the transaction files and other records of the bank. Mr. Subash and Shashaank Balega and 10 other officers were in the vehicles which stood at the bank’s door approximately at 1 am. They kept all the mobile phones of bank officials and shut the main door without allowing anybody to depart from the bank. The people present in the bank were allowed to go out after some questioning.

IT officials checked  transactions in accounts after 8 November, Prime Minister Modi's demonitisation announcement. It is said that few account holders were called to the bank and were questioned. 

The officials of the bank were calm in the whole process. It is said that Urban bank had been adhering  to RBI (Reserve Bank of India) guidelines and norms so they were not too worried. The Income Tax Officers departed without any chit to the bank. The head of the crew Mr. Subhash informed S O correspondent that "We didn't get any suspicious matter from this search but we have collected the information and will work on it”.