Mumbai, Nov 8: A huge cash deposits of Rs 3.68 lakh crore in 23.22 lakh (2.32 million) suspicious bank accounts are under scanner post the demonetisation move and are being probed, Union Shipping Minister Nitin Gadkari said here on Wednesday.
Apart from this, around 17.73 lakh (1.77 million) cases have been detected where the cash transactions failed to match the income tax profiles of the individuals, he said.
“There is No 1 economy (white) and the No 2 (black) economy has been wiped out. We are moving towards a digital and cashless economy,” Gadkari claimed, addressing media on the first anniversary of note ban.
He pointed out that in the contemporary India people ar even making vegetable or grocery purchases through digital payments, toll plazas have gone cashless and people can pay through cashless mode in hotels and restaurants using debit or credit cards.
“Digital transactions have scaled up by 58 per cent. There has been a total clampdown on terror and Left-wing extremism (Maoism) while hawala trading has been dealt a deathly blow,” the Minister stated.
Highlighting other positive impacts , Gadkari said shell companies have been exposed and forced to wind up operations while many black money and hawala transactions have been detected which are being probed by the concerned agencies.
Speaking on terror related activities and Jammu & Kashmir, he said stone pelting has subsided considerably, while the problems of fake currency has also been tackled and the economy will improve in upcoming days.