A whopping Rs 21,000 crores have been deposited in Jan Dhan accounts since the implementation of Centre’s demonetisation drive, new agency ANI reported quoting sources. It added that maximum amount of money has come from the states of Karnataka and West Bengal. Meanwhile, India Today television reported that these accounts are under scrutiny. Earlier, the government had issued a warning to Jan Dhan account holders — 24 crore at the last count — to desist from being used to deposit illicit cash in their accounts. Centre has already asked banks to monitor such no-frill accounts that have seen around Rs 49,000 cash deposits after demonetisation kicked in. The maximum deposit limit in such accounts is R50,000.
In a caution issued to Jan Dhan account holders, housewives and artisans, the govt had said that they will be prosecuted under the I-T Act for allowing misuse of their bank accounts through deposit of black money in Rs 500/1,000 notes during the 50-day time frame till December 30.
The government had issued the directive after the reports of hoarders using other persons’ bank accounts to convert their black money into new denomination notes. It was reported that even rewards are being given to account holders for allowing such misuse. The government had earlier said deposits up to Rs 2.50 lakh in bank accounts would not come under tax scrutiny as it is within the tax exemption limit. However, in the case of Jan Dhan account, the holder can deposit up to Rs 50,000.