Shillong, Jan 19: Banks in Meghalaya will now watch ‘unusual and suspicious’ cash transactions as part of measures to curb the use of money power in the upcoming Assembly elections.

The model code of conduct has come into force from January 18. Meghalaya will go to poll on February 27.

Meghalaya chief electoral officer, F.R. Kharkongor on Friday held a meeting with the state level bankers’ committee (SLBC) led by its convener, Bimal Deb Roy, who is an assistant general-manager of SBI (Regional Business Office) here.

Kharkongor told reporters that during the meeting the model code of conduct was briefed as well as guidelines of the Election Commission and take measures to prevent voters from getting bribed during election.

He said that all banks have been instructed to monitor and submit report on detecting unusual and suspicious cash transactions by individuals to curb the use of money power in the Assembly polls

Banks should bring to the notice and share information with respective district election officers on finding any unusual and suspicious cash withdrawal or deposit of cash in a bank account exceeding Rs 1 lakh during the process of election without any such instance of deposit or withdrawal during the last two months.

Banks should also look into unusual transfer of amount by ‘real time gross settlement (RTGS)’ from one bank account to accounts of several persons in a district/constituency without any precedent of such transfer.

Banks should also watch any deposit of cash or withdrawal exceeding Rs 1 lakh from bank account of candidates or spouse/dependents as mentioned in the election affidavit.

Withdrawal and deposit of cash exceeding Rs 1 lakh in the account of political party during the election process and any other suspicious cash transactions, which might be used for bribing electors should be also watched.

Banks were also instructed to open dedicated counters for election purpose to facilitate prompt service to the candidates for opening of bank accounts and allow withdrawals and deposits from such accounts on priority during the election period.

Kharkongor said that a standing provision also stated that if withdrawal is more than Rs 10 lakh, such information should be passed on to a nodal officer of the income tax department for taking necessary actions under the income tax laws.

District election officers should also activate the 180 flying squads to act on tip off over movement of cash and take necessary action.

There are 36 banks in Meghalaya and have around 395 branches.

Candidates found of using money power would face action according to the provisions of the Representation of People’s Act.

Meanwhile district magistrates of various districts have promulgated an order under section 144 CrPC prohibiting any person or group of persons from carrying money above Rs. 50,000 following information that some persons may carry large amount of hard cash to bribe voters to cast their votes in favour of a particular candidate.