Cash deposit limit in Jan-Dhan accounts set at Rs 50,000 says Govt

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NEW DELHI: The Finance Ministry on Tuesday set an upper fof Rs. 50,000 for deposits into the Jan-Dhan accounts, because of the reports stating Jan-Dhan accounts being used by other people to deposit their unaccounted cash.

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“A few people are utilizing Jan-Dhan accounts to store black money. Up to Rs 50,000 can be stored in Jan-Dhan accounts,” Economic affairs secretary Shaktikanta Das told the media.

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The decision was taken after Prime Minister Narendra Modi held a moment survey meeting on Monday night on demonetisation with authorities of the Finance Ministry and the Reserve Bank of India (RBI).

Das said the legitimate Jan-Dhan account holders would not be put to any sort of trouble. Nonetheless, the wellspring of stores of above Rs 50,000 into these accounts will be confirmed, he included.

“A close watch is being continued at them (deposits in Jan-Dhan accounts),” he said.

Das said, “Jan-Dhan account holders ought not permit other individuals to utilize their accounts to change over their black money into white. Banks have been encouraged to keep a close watch on money development.”

For different accounts, Finance Minister Arun Jaitley had before said that the organization won’t try to make investigation about the small deposits of Rs 1.5-2 lakh.

At the audit meet, it was additionally chosen that bank counters will utilize permanent ink from Tuesday in real urban areas to keep individuals from making more than the allowable number of times money withdrawal.

Right now, the everyday withdrawal constrain from ATMs is Rs 2,500, and trade of old notes from bank counters is Rs 4,500. This separated, as far as possible for week after week withdrawal from ledgers remains at Rs 24,000.

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