JAMSHEDPUR: The Jamshedpur Notified Area Committee JNAC ) appealed to all public and private sector banks to not open current accounts or grant business loans without verifying trade licenses thoroughly.In the wake of three incidents in four days, pertaining to fake trade licenses in the possession of traders, the JNAC said henceforth banks have to be careful in dealing with traders coming for opening current accounts or availing business loans."The practice of issuing offline trade licenses by NAC was stopped in November 2017 and all licenses that have been issued thereupon are through online," special officer of JNAC Sanjay Kumar said appealing to banks to bear this point in mind while dealing with prospective traders.Kumar also said an employee of a private bank, who was caught by the flying squad of NAC on Tuesday for his alleged role in entertaining fake trade licenses, revealed that an organised gang is running the racket of manufacturing fake trade licenses."Information shared by the accused suggest that an organised gang is operating the illegal business of issuing fake trade license causing revenue loss to the government but we are verifying the revelations," said Kumar.The three traders, facing charges of possessing fake licenses, run separate business firms in Sakchi and Bistupur markets.The accused will face legal action for cheating as an FIR has been lodged in Sakchi police station against the offenders, officials at the notified area said."We appeal to traders to get the licenses only from authorised agencies of the government," said Bharat Vasani , functionary of Singhbhum Chamber of Commerce and Industry that represents the traders of the Steel City.

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