Puri, Nov 23: Taking into consideration the allegation of giving the allowance to exchange demonetized notes exceeding the said limit, today the Income Tax (IT) department raided the Urban Co-operative Bank here. The raid took place by a three member team of the IT department, they examined all the cash transactions, money receipts and all the other important documents of the bank. It may be noted that the RBI had laid down the guideline stating that a customer will be allowed to carry out the exchange policy upto Rs 2,000 only which would be later extended to Rs 4,000 and later on to Rs 4,500.
