Jan Dhan account deposits doubled to ?87,000cr post note ban
Jan Dhan account deposits have more than doubled to ?87,000 crore till December 23, prompting tax department to "dissect" information relating to them, a senior official said. Inflow of funds into these accounts was highest in the first week post demonetisation. If it's found that money in these accounts belongs to other persons, necessary action will be taken, he added.
New Delhi, Jan 1 (PTI) Deposits in Jan Dhan account have more than doubled to Rs 87,000 crore in 45 days post demonetisation, prompting the tax department to "dissect" information relating to such deposits, a top government official said. Besides, the tax department also has data on small cash deposits between Rs 30,000-50,000 made in 4.86 lakh accounts totaling to Rs 2,000 crore. Between November 10-December 23, the total deposits in Jan Dhan accounts reported is Rs 41,523 crore in 48 lakh accounts. This, together with the total deposits of Rs 45,637 crore as on November 9, takes the aggregate amount in Jan Dhan accounts to over Rs 87,100 crore. "All these information received on Jan Dhan Accounts are being dissected. If it is found that money deposited in these accounts belong to some other persons, necessary action will be taken at appropriate time," the official told PTI. Cash deposit between Rs 30,000 and Rs 50,000 have been reported in 4.86 lakh accounts till November 30, taking the total deposits in such quantum to Rs 2,022 crore. The official further said that inflows of funds into Jan Dhan accounts was the highest in the first week after demonetisation at Rs 20,224 crore, but after that the deposits went down substantially. "The inflow of funds in Jan Dhan accounts after the first two weeks was below Rs 5,000 crore per week and thereafter it got reduced to about Rs 1,000 crore per week," the official said, adding that the deposits have come down significantly after the tax department warned people not to allow their accounts to be misused for converting black money into white. Prime Minister Narendra Modi had on November 8 announced junking of old Rs 500 and Rs 1,000 notes, and replaced the currency with new Rs 2,000 and Rs 500 notes. 