Updated March 18th, 2024 at 21:23 IST

Gautam Buddha Nagar administration tightens financial oversight ahead of polls

With Gautam Buddh Nagar serving as a financial hub boasting 43 banks and 590 branches, the move aims to prevent any attempts to sway voters.

Reported by: Business Desk
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Tracking the transactions: In preparation for the upcoming Lok Sabha elections on April 26 in Gautam Buddh Nagar, Uttar Pradesh, the district administration has taken proactive steps to ensure the integrity of the electoral process. Recognising the potential for financial influence on voters, the administration has directed banks across Noida and Greater Noida to closely monitor transactions exceeding Rs 10 lakh.

With Gautam Buddh Nagar serving as a financial hub boasting 43 banks and 590 branches, the move aims to prevent any attempts to sway voters through monetary means. District Magistrate Manish Verma emphasised the importance of transparency and peaceful conduct during the electoral process.

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Under the directive, banks are tasked with meticulously tracking transactions above the specified threshold and promptly reporting them to the District Election Office. These reports will then undergo scrutiny by the Income Tax Department to ensure adherence to electoral regulations.

Furthermore, stringent guidelines have been established for vehicles transporting cash, particularly those refilling ATMs. Verma stressed the necessity of proper documentation and strict adherence to protocols to prevent any unauthorized cash movements during the election period.

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During a meeting with bank officials, Verma underscored the importance of voter awareness initiatives and urged banks to actively engage with customers to promote participation in the democratic process. Initiatives such as educating customers on verifying their names and polling booths through the voter helpline were highlighted to enhance voter turnout.

Vidur Bhalla, Gautam Buddh Nagar's Lead Banker, affirmed the banks' commitment to comply with the administration's directives, ensuring full cooperation for the upcoming polls. Additionally, Bhalla informed about the planned closure of banks on specified dates preceding the elections to facilitate logistical arrangements.

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Through proactive engagement with banks and robust monitoring mechanisms, the Gautam Buddh Nagar administration aims to uphold the integrity of the electoral process and encourage greater civic participation in the democratic exercise.

With PTI inputs

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Published March 18th, 2024 at 21:23 IST