Demonitization: Rs 700 cr deposited in Jan Dhan accounts in Northeast

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.

A story in the Assam Tribune claimed 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.

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