Haryana tops region in Jan Dhan deposits after demonetisation move

CHANDIGARH: Ha ryan a topped the region with nearly Rs 780 crore deposited in Jan Dhan accounts in banks in the state after November 8 last year when Prime Minister Narendra Modi declared currency notes of Rs 500 and Rs 1,000 invalid.

Punjab was the next with nearly ₹500 crore while the union territory of Chandigarh recorded an increase of about ₹18 crore.

These accounts were opened under the Pradhan Mantri Jan Dhan Yojana to achieve financial inclusion of all those who did not have a bank account.

Officials say these figures are based on information collected by the income tax (I-T) department regarding cash deposits in all bank accounts, including Jan Dhan accounts. This I-T exercise followed reports that deposits in these accounts went up by 100% to Rs 87,000 crore in 45 days post demonetisation.

The government had set a cash deposit limit of ₹50,000 in Jan Dhan accounts. Then came in reports that some people were misusing Jan Dhan accounts of others to salvage their black money. The government also warned account holders that they will be prosecuted under the Income Tax Act if they allow misuse of their bank accounts.

Haryana saw the deposits go up from ₹1567.75 crore to ₹2349.26 crore – a rise of a little over Rs 780 crore. The Punjab’s figures went up from ₹1373.73 crore to ₹1872.26 crore, an increase of over ₹498 crore.

Deposits in the Jan Dhan accounts in Chandigarh went up from ₹70.13 crore to ₹88.93 crore. These figures pertain to deposits made in Jan Dhan accounts between November 9, 2016 and January 25, 2017.

THESE ACCOUNTS WERE OPENED UNDER THE PRADHAN MANTRI JAN DHAN YOJANA TO ACHIEVE FINANCIAL INCLUSION OF ALL THOSE WHO DID NOT HAVE A BANK ACCOUNT