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Rs 700 cr deposited in NE Jan Dhan accounts

By R Dutta Choudhury

GUWAHATI, Jan 3 - Cash amounting to more than Rs 700 crore was deposited in the zero balance Jan Dhan bank accounts in the Northeast within one month from the date of demonetisation of the old Rs 1,000 and Rs 500 currency notes. The figure may go up as the details of all the Jan Dhan accounts are now being examined.

Sources in the Income Tax Department told The Assam Tribune that the deposits in the Jan Dhan accounts went up sharply since the demonetisation. From zero balance, a large number of such accounts suddenly recorded very high rate of transactions and in some accounts, huge amounts of money were deposited within a short period of time.

According to records, more than 1.14 lakh Jan Dhan accounts in the Northeast recorded deposits of more than Rs 30,000 in the first month following demonetisation. More than Rs 320 crore was deposited in the Jan Dhan accounts in Assam alone, while more than Rs 100 crore was deposited in Meghalaya. Similarly, the other states of the region also recorded heavy amount of deposits.

Sources revealed that in one such account in Assam, an amount of Rs 40 lakh was deposited after demonetisation, while in another such account in Manipur, an amount of Rs 50 lakh was deposited. Similarly, the highest deposit in one Jan Dhan account in Meghalaya was an amount of Rs 20 lakh.

IT Department sources admitted that it would not be possible to examine all the Jan Dhan accounts and that is why, the accounts where more than Rs 30,000 was deposited within a month from demonetisation were identified. Sources admitted that hardly any deposits were made in the Jan Dhan accounts since those were opened under a special drive by the Prime Minister, but the accounts started recording large deposits only after demonetisation. It is apparent that some persons used such accounts held by poor people to deposit their black money.

On the steps to be taken against such deposits in Jan Dhan accounts, sources said that the holders of such accounts, where large deposits were made, would be questioned and they would have to explain the source of the money. By doing so, the authorities are expected to get the sources of these money and if any person deposited their black money in the Jan Dhan accounts, they may be caught sooner or later as it will not be possible for such account holders to disclose the source of their income.

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