.............The matter of misuse of UCBs, over which there is dual control by central or state governments through multi-state cooperative societies or state cooperative societies, was discussed during a a recent meeting of Economic Intelligence Council (EIC), chaired by Finance Minister P Chidambaram. The meeting, which was attended by senior officials of Central Economic Intelligence Bureau (CEIB), Reserve Bank of India (RBI) and Finance Ministry, stressed for devising ways to check money laundering through these banks.............
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