Jan Dhan sees dip in inflows

New Delhi: Income tax department on Wednesday said that following government’s warning that stern action will be taken against those misusing Jan dhan accounts there has been “considerable decrease in the inflow of funds” into them.

“The average per account deposit in Jan Dhan accounts is Rs 13,113 for this entire period from 8th November to 2nd December, which is not alarming, given the need to bring all cash to banks,” said income tax department.

However, it said that the department has identified the local clusters and bank branches where the inflow of Jan Dhan deposits have been more than normal. IT will investigate money deposited into them which belonged to somebody else.

It said that in the first week after demonetisation (November 8 to 15) the total deposits received in Jan Dhan accounts was Rs 20,206 crores.

In the second week, between November 16 to 22, the flow was Rs 11,347 crores. In the third week between November 23 to 30, it was reduced to Rs 4,867 crores. “On December 1 and 2, the inflow into Jan dhan account has now been reduced to Rs 410 crores and Rs 389 crores respectively,” it said. “Since the time the government has alerted people not to allow their accounts, particularly  Jan Dhan accounts, to be used by others for the purpose of converting their black money there has been a considerable decrease,” it said.