Jan Dhan deposits double up post-demonetisation grossing Rs 87000 crore

Posted on by Ankita Sharma

Jan Dhan deposits: The 50 day time period for the deposits of the old notes is finally over and the post-demonetisation scrutiny has begun. Ever since demonetisation has been introduced, the deposits in the Jan Dhan accounts have grown by more than 50 percent.

Jan Dhan deposits double up post-demonetisation grossing Rs 87000 crore

“As on December 21, deposits worth Rs 71557.90 crore had been mobilised under the Pradhan Mantri Jan Dhan Yojna(PMJDY).”

-Finance Ministry said in a statement.

Jan Dhan deposits rise over 50 percent post-demonetisation

The officials have stated that the deposits of Rs 30000 to Rs 50000 amounted to Rs 2000 crore in almost 4.8 lakh accounts. The deposits into these accounts were the highest when the announcement was made on November 8.

“The income tax department has identified the local clusters and the bank branches where the inflow of Jan Dhan deposits have been more than normal, in order to investigate money deposits in Jan Dhan accounts which belonged to somebody else”, the Finance mnistry said in an official statement.

After the first week of the announcement, the deposits in the Jan Dhan accounts rose to Rs 64252.15 crore.

Jan Dhan deposits double up post-demonetisation grossing Rs 87000 crore

The government had later announced that the misuse of these accounts for one’s own benefit or money laundering will be punished as under the law and the account holders had been warned about letting friends and relatives launder their black money in their Jan Dhan accounts.

The deposits in these accounts gradually declined to Rs 410 crore as on December 1.

“Not all deposits appear to be genuine in nature. Some deposits are exceptionally large and it is clear that these accounts were being used by black money hoarders. We are checking information relating to such deposits and if we find that the accounts belong to someone else then the strictest possible action will be taken”, an officer said in a statement.

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