Election 2023: In a significant move ahead of the upcoming legislative assembly elections in five Indian states, including Madhya Pradesh, Chhattisgarh, and Rajasthan, the Election Commission has intensified its scrutiny of banks. The focus is now firmly on every transaction made from bank accounts. This means that every financial move you make will now be under the watchful eyes of the Election Commission.
If any suspicious activity is detected in your bank account, you could find yourself on the radar of the Election Commission. For larger cash transactions, you will need to provide a legitimate reason to satisfy the Commission. Failure to do so could result in your funds being seized. Additionally, the Commission has increased its monitoring of all financial transactions conducted through banks since the enforcement of the Model Code of Conduct. They suspect that political parties may attempt to woo voters through online transactions as the times change.
Heightened Surveillance on Inactive and Irregular Bank Accounts
The Election Commission has also initiated tracking of bank accounts that have been dormant for years or have sporadic transactions. The Commission is concerned that political parties may utilize these accounts during the election season. Banks have been instructed to immediately inform the Commission if any sudden transactions occur in these accounts.
Stringent Rules for Bank Personnel
Bank officials responsible for depositing money into ATMs and bank branches will now need to carry an official ID card at all times. Only authorized vans will be used for cash transportation, and in the absence of these vans, banks must notify the police before using alternative vehicles for transportation. Furthermore, banks will need to provide complete details of the branch from which the funds originate during cash transactions.
Mandatory ID Cards and Authorized Cash Vans
In light of the enforcement of the Model Code of Conduct, the use of authorized cash vans and ID cards has been made mandatory. Previously, cashiers and currency chest officers often used any available van and did not require ID cards. However, this is no longer the case. If an ID card is not presented, the money will be confiscated.
These measures have been implemented by the Election Commission to ensure transparency and prevent any misuse of financial resources during the election process. With technology playing a significant role in modern elections, the Commission is taking all necessary steps to maintain the integrity of the electoral system.
As the election season heats up, political parties and candidates are expected to adhere to these new regulations to avoid any potential legal consequences. The Election Commission’s enhanced scrutiny of financial transactions is a clear indication of its commitment to conducting free and fair elections.
Stay tuned for more updates as the election date draws near. The Election Commission is leaving no stone unturned to ensure that the democratic process remains untainted and that the voice of the people is heard loud and clear at the ballot box.