In a significant move, the Pune Municipal Corporation (PMC) has served notices to 31 banks in the city.

These banks were not paying octroi on the gold coins sold in their banks over the last many years.

Apart from this, the octroi department has also sought details from many banks about their transactions regarding sale of gold.

According to the department, most banks get the gold coins from outside the city, but they have not been paying octroi.

Confirming the development, Rajan Muthe, head of the department said: "We have sought information from most banks and have issued notices to some others seeking explanations. The gold is delivered in the same vehicles in which their cash arrives, and we do not check those vehicles."

Muthe also informed that further action will be taken only after the banks respond to the notices.

Earlier, the department on Friday seized 50 kg of silver from two companies who have evaded Octroi.