New Delhi, November 26: Narendra Modi led central government is heading towards another flip flop on demonetisation as aggregate deposits in Jan Dhan accounts have leaped 30 times at Rs 64,252.15 crore in just 8 days after the currency ban was announced.
“As on November 16, 25.58 crore accounts with aggregate deposits of Rs 64,252.15 crore have been opened under Pradhan Mantri Jan Dhan Yojana (PMJDY) across the country,” Minister of State for Finance Santosh Kumar Gangwar told the Lok Sabha in a written reply.
Clearly government has received red flags from Pradhan Mantri Jandhan deposits. The center is on a look out for those who misplayed with the loopholes of demonetisation policy and deposited cash in the jandhan accounts.
Uttar Pradesh leads among the states with 3.79 crore account holders and deposits of Rs 10,670.62 crore, followed by West Bengal with 2.44 accounts and deposits of Rs 7,826.44 crore. Rajasthan follows at third place with 1.89 crore accounts and deposits of Rs 5,345.57 crore.
“We have noticed discrepancies in several Jan Dhan accounts and we are examining them. People using these accounts or any other accounts to park their illegal money will not be spared,” a senior finance ministry official, quoted HT.
The same source reveals that government expects at least 50% of these transactions to be “suspicious” and income-tax department is closely keeping an eye on these transactions.
The IT department would first examine inactive accounts that were gusted with deposits post the currency ban. The total balance in Jan Dhan accounts was Rs 45,636.61 crore before Rs 500 and Rs 1000 currency ban was announced.
“There are lots of genuine deposits too and the money that has come in was being simply hoarded at home, more as a habit. But we have to differentiate these deposits from the suspicious ones,” said the official.
Since August 28, 2014 more than 250 million accounts have been opened under Pradhan Mantri Jan Dhan Yojana (PMJDY). As per the information, a third of these accounts have received deposits of Rs 50,000 in the last few days.
However the limit of deposit of Jan dhan accounts that are not KYC (know your customer) complient is only Rs 50, 000 while for those who have shared their PAN details can submit upto Rs. 2.5 lakhs.
Earlier allegations were made that banks are putting Rs 1 to Rs Rs 10 to Jan dhan accounts so as to keep them active. While Gangwar rejected the allegation in Lok Sabha.
Finance Minister Arun Jaitley had also prompted last week that Jan Dhan accounts will be scrutinized. “There are reports that there has been a surge in deposits in some of Jan Dhan accounts. We are aware of this and we will monitor the desposits. Any person who indulges in any unlawful activity will not be spared,” said FM.