Demonetisation: Jan Dhan accounts more than double to Rs 87,000 cr, I-T 'dissects' details

New Delhi: Deposits in Jan Dhan accounts 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 totalling Rs 2,000 crore.



Between November 10 and December 23, the total deposits in Jan Dhan accounts stood at Rs 41,523 crore in 48 lakh accounts. This, together with the total deposits of Rs 45,637 crore as on 9 November, takes the aggregate amount in Jan Dhan accounts to over Rs 87,100 crore.

The inflow 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. After setting a cash deposit limit of Rs 50,000 in Jan Dhan accounts, the government had on 18 November cautioned account holders that they will be prosecuted under the I-T Act for allowing misuse of their bank accounts through deposit of black money.

The directive came against the backdrop of reports that some are misusing other persons’ bank accounts to convert their black money into new denomination notes.

Published Date: Jan 02, 2017 08:31 AM | Updated Date: Jan 02, 2017 08:33 AM

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