Rs 21,000 crore deposited in Jan Dhan accounts

New Delhi: Jan Dhan accounts are suddenly flush with money. About Rs 21,000 crore has been deposited in them after the demonetisation was announced on November 8.

The Mamata Banerjee-ruled West Bengal leads the states, which has seen the highest deposits, followed by Karnataka, said sources.

Following the currency withdrawal, the total balance in Jan Dhan accounts has reached Rs 66,636 crore. As of November 9, the balance in about 25.5 crore Jan Dhan accounts was Rs 45,636 crore.

Earlier, the Central government had said that it would look into the spurt in the quantum of deposits in several Jan Dhan accounts and had warned holders not to allow their accounts to be misused by people trying to convert their black money into white.

Modi’s Jan Jan Ki Baat

Last week, the finance ministry had warned Jan Dhan account holders, housewives and artisans that they would be prosecuted under the Income-Tax Act for allowing misuse of their accounts to deposit Rs 500/Rs 1,000 notes during the 50-day window till December 30.

People told not to misuse Jan Dhan accounts
“It was announced by the government earlier that small deposits made in the banks by artisans, workers, housewives would not be questioned by the I-T department in view of the fact that the present exemption limit for income tax is Rs 2.5 lakh. But there are reports that some people are using bank accounts of others to convert their black money into new denomination notes for which commissions are also being given to the account holders who agree to allow their accounts to be used,” the finance ministry had said, adding that this activity was being reported for Jan Dhan accounts too.

“The person who allows his or her account to be misused for this purpose can be prosecuted for abatement under the I-T Act,” stated the finance ministry, requesting people not to be lured by black money converters and be a partner in this crime.