The Rajasthan capital has emerged the top centre for filtering old currency from November 8-22, reveals data from the Financial Intelligence Unit
Guess which city has registered the maximum transactions in Jan Dhan accounts? No, it’s not Delhi, Kolkata or even financial capital Mumbai but Jaipur, which has Rs 47,201 crore in the accounts. This amounts to 87 per cent of the Rs 53,770 crore all-India transactions, in the first two weeks of demonetization.
The Rajasthan capital has emerged the top centre for filtering old currency from November 8-22, reveals data from the Financial Intelligence Unit (FIU), a specialised agency that works under the Finance ministry to monitor suspicious bank transactions. Kolkata, with Rs 720 crore deposited in the same period, and Delhi, with Rs 197 crore, follow far, far behind.
Moreover, Jaipur has seen 30,542 of the total 35,000 transactions across India. Jaipur is followed by Kolkata, New Delhi and Chennai. Of these 30,542 transactions, 11,000 transactions do not have PAN (permanent account number), ministry sources told DNA.
B Class cities like Haldwani are seeing Rs 7-8 crore every day, it is learnt. The revenue department is working on the FIU data to take action against ‘unexplained’ depositors. Income-Tax (I-T) department sources added that they have started sending notices.
Agents who were active in Delhi and other metro cities came to Jaipur every day to collect money, said a prominent hardware and sanitary shop owner in Jaipur. “The going rate is Rs 80 (in new currency) to Rs 100 (old currency),” he added on condition of anonymity.
A Jan Dhan account holder said that people were ready to convert black money into white on a commission of 20 per cent. With the government declaring that deposits up to Rs 2.5 lakh would not be questioned, there are instances of Jan Dhan account holders being enticed to put the money and keep a percentage when they finally withdraw it.
Launched on August 28, 2014, under the Pradhan Mantri Jan Dhan Yojna (PMJDY), Jan Dhan accounts can have deposits of up to Rs1 lakh a year. Accounts that don’t adhere to Know Your Customer (KYC) norms have a lower limit of Rs 50,000. Of the 25.51 crore Jan Dhan accounts, 5.86 crore have no money in them. However, there has been a surge since November 8 when the government withdrew high denomination notes. Kolkata-based Saeeda Laieek is the top Jan Dhan account holder, with Rs 58 lakh, followed by Jasbir Singh of Delhi with Rs 33.4 lakh, shows data from November 8-22.
In his recent public rallies, Prime Minister Narendra Modi has been telling the poor to not allow the misuse of their Jan Dhan accounts. He said in Moradabad that those who had deposited money this way should not return it.
Unofficial sources had earlier said that West Bengal led the pack of states that had seen the highest deposits in the first fortnight of demonetization. But FIU data suggests that that might not be the case.
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