After Prime Minister Modi made an announcement of demonetizing high currency notes to put dent in corruption, some section of people had hoped ‘acche din aane waale hain’ to materialize. But, the same people are now expressing their anguish over government pointing out that the demonetization drive was implemented without proper precautions and planning.

Seems like, Modi decided not to talk much about the issue until things settle down. One questions how could some corrupts get huge amounts of the denomination of Rs 2,000 notes, when it is tough for normal people to draw a minimum of Rs 2000 per a day from their own accounts.

Modi, apparently, had executed few other operations secretly and that is how few corrupts are being caught in IT raids.

Income-Tax department, Enforcement Directorate, the Fraud Investigating Unit and other intelligence agencies have been investigating money laundering in banks after demonetization.

It is reliably learnt that, top most brokers were zeroed into the scene to make deals with high level businessman and bank officials, post Modi’s announcement.

According to reports, revenue intelligence agencies have carried out sting operations at 500 bank branches and some 400 CDs are now with the government. The PMO too was looking into the CDs.

The agency is likely to press money laundering charges in a number of cases against bank officials and individuals. The agency had launched the operation as part of its action to check financial crimes post-demonetization, at branches in Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata and Chennai.

This was based on where the maximum number of old notes were deposited or huge cash was dumped in accounts. The agency had recently arrested two Axis Bank employees working at a branch in Delhi.