ED conducts raids at seven sites in Jharkhand and Odisha in Jharkhand State Co‑operative Bank probe

The Enforcement Directorate (ED) carried out coordinated raids at seven premises spread across Jharkhand and Odisha on Monday. The operation is linked to a probe into suspected financial misconduct at the Jharkhand State Co-operative Bank, which authorities suspect may involve money‑laundering or other violations of the Prevention of Money Laundering Act.

According to officials, the raids targeted offices and residences of individuals believed to be connected with the bank’s alleged irregularities. ED teams seized documents, computers and other material that could aid the investigation. No arrests were reported at the time of the raids, and the agency has not disclosed the identities of those present at the locations.

The Jharkhand State Co-operative Bank, a regional financial institution, has come under scrutiny after preliminary inquiries hinted at possible misuse of funds. The ED’s action underscores the central government's focus on curbing financial crimes in the cooperative banking sector. Further details are expected as the investigation progresses.