Odisha: Probe into suspicious transaction in Jan Dhan accounts
8 years, 3 months ago

Odisha: Probe into suspicious transaction in Jan Dhan accounts

Deccan Chronicle  

Cuttack: The police are investigating repeated deposits and withdrawal of large amounts of money in Jan Dhan bank accounts of around 13 members of a Self-Help Group here, the police said on Thursday. The account holders of Gopinathpur branch of a bank claim that they have not operated their accounts even once after the accounts were opened last year. The members of Tulasi SHG said they had opened the Jan Dhan accounts in order to avail loans if any, in future. Although such bogus transactions in the Jan Dhan accounts were brought to the notice of the bank officials, they appeared indifferent, some of the account holders claimed.

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History of this topic

New India Cooperative Bank Scam: Accused Hitesh Mehta, Dharmesh Paun remanded to police custody till February 21
Trending News
1 month, 2 weeks ago

New India Cooperative Bank Scam: Accused Hitesh Mehta, Dharmesh Paun remanded to police custody till February 21

Live Mint  

Mumbai: A Mumbai Court has sent New India Cooperative Bank scam accused Hitesh Mehta and Dharmesh Paun to Police custody till 21 February. Hitesh Mehta, the former general manager of the bank, is accused of orchestrating a scheme that allegedly embezzled ₹122 crore from customer accounts while overseeing operations at the Dadar and Goregaon branches. The Mumbai bank scam reportedly …

RBI alarmed at lakhs of bank accounts being used for fraud: Report
8 months, 3 weeks ago

RBI alarmed at lakhs of bank accounts being used for fraud: Report

Live Mint  

The Reserve Bank of India expressed its surprise at some banks having lakhs of accounts that are used for fraudulent transactions and evergreening loans, reported Business Standard. We found certain banks having lakhs of such accounts with apparently no valid reason,” RBI Deputy Governor Swaminathan J said on Tuesday in his address to banks, with chief financial officers and auditors …

Big deposits of ₹2,000 notes in Jan Dhan accounts will draw tax scrutiny
1 year, 10 months ago

Big deposits of ₹2,000 notes in Jan Dhan accounts will draw tax scrutiny

Hindustan Times  

Mass cash deposits are likely to come under scanner to catch tax evaders using third party bank accounts to hide their wealth while exchanging ₹2,000 notes, according to officials aware of the development, who said sudden large deposits in multiple Jan Dhan Yojana accounts may also be scrutinised. Banks have been instructed to report “suspicious” account transactions and tax authorities …

PM Jan Dhan Yojana: Redefining Financial Inclusion, the Narendra Modi Way
3 years, 2 months ago

PM Jan Dhan Yojana: Redefining Financial Inclusion, the Narendra Modi Way

News 18  

Pradhan Mantri Jan Dhan Yojana was launched on August 28, 2014, with the objective to ensure accessibility to various financial services like availability of basic savings bank account, need-based credit, remittance facility, insurance, micro-credit and pension to the excluded sections, which includes the weaker sections and low-income groups. The Jan Dhan Revolution Coming back to Jan Dhan, more than 44.34 …

Jan Dhan Accounts Swell to 43 Cr with Total Deposits Over Rs 1.46 Lakh Cr
3 years, 7 months ago

Jan Dhan Accounts Swell to 43 Cr with Total Deposits Over Rs 1.46 Lakh Cr

News 18  

New Delhi: Bank accounts under Pradhan Mantri Jan Dhan Yojna have increased to 43 crore with total deposits over Rs 1.46 lakh crore, the finance ministry on Saturday said as the government's flagship financial inclusion scheme completes seven years of implementation. Out of total 43.04 crore PMJDY accounts, 36.86 crore or 85.6 per cent are operative, and the average deposit …

Deposits in Jan Dhan accounts surge in 1st week of April
4 years, 11 months ago

Deposits in Jan Dhan accounts surge in 1st week of April

The Hindu  

The deposits in Jan Dhan accounts saw a sudden surge in the first week of April, mainly due to the Central government transferring money into such accounts to help beneficiaries deal with the difficulties during the lockdown. According to official data, the total deposits into the accounts opened under the Pradhan Mantri Jan Dhan Yojana increased to ₹1.28 lakh crore …

PMC Bank scam: Maharashtra Sikhs unable to go on Kartarpur pilgrimage
5 years, 4 months ago

PMC Bank scam: Maharashtra Sikhs unable to go on Kartarpur pilgrimage

India TV News  

At least 1,950 Sikhs from Maharashtra could not go to Gurudwara Darbar Sahib in Pakistan after opening of the Kartarpur corridor as they are facing financial crunch due to a scam at the Punjab and Maharashtra Cooperative Bank, a senior community leader claimed. The PMC Bank has been put under restrictions by the RBI since September after an alleged Rs …

PMC Bank officials deposited money directly into HDIL bosses' personal accounts: Mumbai Police
5 years, 5 months ago

PMC Bank officials deposited money directly into HDIL bosses' personal accounts: Mumbai Police

India Today  

The Mumbai Police probing the Punjab and Maharashtra Cooperative Bank case found bank officials to have helped the HDIL bosses by depositing money in their personal accounts. PMC Bank officials had allegedly deposited around Rs 2,000 crores directly into the HDIL bosses' personal accounts while loans were sanctioned to the company. DCP Pranay Ashok from Mumbai police said, The two …

Deposits in Jan Dhan accounts cross ₹1-trillion mark
5 years, 8 months ago

Deposits in Jan Dhan accounts cross ₹1-trillion mark

Live Mint  

New Delhi: Deposits in bank accounts opened under Jan Dhan scheme, launched about five years ago by the Modi-government, have crossed the ₹1 lakh crore mark. As per the latest finance ministry data, the total balance in over 36.06 crore Pradhan Mantri Jan Dhan Yojana accounts was at ₹1,00,495.94 crore as on 3 July. Accounts opened under PMJDY are Basic …

Jan Dhan Yojana’s triumph shows financial inclusion gaining pace; scheme a launching pad for success of DBT, other products
5 years, 10 months ago

Jan Dhan Yojana’s triumph shows financial inclusion gaining pace; scheme a launching pad for success of DBT, other products

Firstpost  

Allegations of large-scale misuse of Jan Dhan accounts by black money hoarders seeking to convert their illegitimate wealth in cash during demonetisation are yet to be proved. The aggregate deposits in the Pradhan Mantri Jan Dhan Yojana accounts are currently close to Rs 1 lakh crore, having grown ten-fold from the Rs 10,500 crore in the first phase of the …

Deposits in Jan Dhan accounts inch towards Rs 1 lakh crore mark; total stand at Rs 96,107 crore
5 years, 11 months ago

Deposits in Jan Dhan accounts inch towards Rs 1 lakh crore mark; total stand at Rs 96,107 crore

Firstpost  

The total balance in the Jan Dhan accounts, which has been steadily rising, was at Rs 97,665.66 crore as on 3 April, as per the latest government data New Delhi: The total deposits in bank accounts opened under the Jan Dhan scheme, which was launched about five years ago by the Modi-government, are set to cross Rs 1 lakh crore …

Jan Dhan accounts weren’t intrinsically misuse-prone; P Chidambaram’s rant ignores past indulgences
6 years, 5 months ago

Jan Dhan accounts weren’t intrinsically misuse-prone; P Chidambaram’s rant ignores past indulgences

Firstpost  

If four out of five Jan Dhan accounts are inactive and the bulk of them are for money laundering then how can the no-frills accounts opened under Chidambaram’s UPA government smell of roses? Senior Congress leader and former finance minister P Chidambaram has railed against the Narendra Modi government’s Jan Dhan initiative on several counts calling it a jumla and …

P Chidambaram calls Narendra Modi's Jan Dhan Yojana 'jumla', alleges scheme used to launder money after demonetisation
6 years, 5 months ago

P Chidambaram calls Narendra Modi's Jan Dhan Yojana 'jumla', alleges scheme used to launder money after demonetisation

Firstpost  

P Chidambaram said the increase in the number of Jan Dhan accounts has not translated into greater flow of credit to the rural population. New Delhi: Congress leader P Chidambaram said on Thursday that Pradhan Mantri Jan Dhan Yojana was a jumla and “an exercise in self-deception” by the Narendra Modi government, alleging that the accounts were used to launder …

Despite Jan Dhan push, financial inclusion is elusive
6 years, 8 months ago

Despite Jan Dhan push, financial inclusion is elusive

Live Mint  

New Delhi: A shortage of bank branches and ATMs across India’s hinterland is holding back Prime Minister Narendra Modi’s financial inclusion efforts and risks angering rural voters ahead of elections next year. After taking office in 2014, Modi set an ambitious target to open a bank account for every household to ensure welfare funds flow directly to India’s poor, while …

India needs Jan Dhan, and not just Jan Dhan accounts
6 years, 10 months ago

India needs Jan Dhan, and not just Jan Dhan accounts

Live Mint  

In the run-up to the 2019 general election, the Bharatiya Janata Party has started its media blitz, outlining the achievements of the last four years. Under tremendous pressure from the top to reach targets of new bank accounts, bank employees and bureaucrats opened fake accounts, or converted existing accounts into Jan Dhan accounts. The World Bank Group’s Global Findex Database …

Are Jan Dhan bank accounts actively used?
7 years, 11 months ago

Are Jan Dhan bank accounts actively used?

Live Mint  

Many analysts attribute the recent electoral success of the Bharatiya Janata Party to the effective implementation of social sector schemes launched by the government of India. However, from these indicators, one cannot tell whether the usage is one-off or account holders use the accounts actively and whether a small number of active accounts drive the aggregate numbers. In a recent …

Rs 5,000 crore withdrawn from Jan Dhan accounts post note ban
8 years, 2 months ago

Rs 5,000 crore withdrawn from Jan Dhan accounts post note ban

India TV News  

Rs 5,000 crore withdrawn from Jan Dhan accounts post note ban Since December 7, Jan Dhan accounts have witnessed a net withdrawal of Rs 5,582.83 crore. Total deposits had increased to a record high of Rs 74,610 crore on December 7 and thereafter, it saw a Since December 7, Jan Dhan accounts have witnessed a net withdrawal of Rs 5,582.83 …

Rs5,583 crore withdrawn from Jan Dhan accounts in a month post note ban
8 years, 2 months ago

Rs5,583 crore withdrawn from Jan Dhan accounts in a month post note ban

Live Mint  

New Delhi: Jan Dhan accounts have witnessed net withdrawal of Rs5,582.83 crore since 7 December, the day deposits in these accounts soared to all time high in the backdrop of demonetisation. Total deposits in Jan Dhan accounts had increased to a record high of Rs74,610 crore on 7 December and thereafter, it started gradual decline to close at Rs69,027.17 crore …

Demonetisation: Woman finds Rs 100 crore in Jan Dhan account, seeks PMO intervention
8 years, 3 months ago

Demonetisation: Woman finds Rs 100 crore in Jan Dhan account, seeks PMO intervention

Firstpost  

Shocked to find nearly Rs 100 crore in her Jan Dhan account in a Meerut branch of a state-run bank, a woman on Monday sought the PMO’s intervention after the bank officials did not attend to her complaint and kept asking her to come some other time. Ghaziabad: Shocked to find nearly Rs 100 crore in her Jan Dhan account …

₹100 crore deposits found in 500 Jan Dhan accounts in Indore region
8 years, 3 months ago

₹100 crore deposits found in 500 Jan Dhan accounts in Indore region

Hindustan Times  

The Income Tax department has traced several multi-crore transactions people made in Indore region, after the Centre announced demonetisation of Rs 500 and Rs 1,000 bank notes on November 8. Vinod Kumar Mathur, chief I-T commissioner, Indore region, said on Friday that the department’s investigation wing has collected details of 500 Jan Dhan accounts, which have received deposits of more …

Inflows in Jan Dhan accounts decreased after public warning: Government
8 years, 3 months ago

Inflows in Jan Dhan accounts decreased after public warning: Government

India TV News  

Following the Income Tax Department's warning on not allowing misuse of Jan Dhan accounts for laundering black money post-demonetisation, inflows into such accounts have come down significantly, the government has said. "The average per account deposit in Jan Dhan accounts is Rs 13,113 for this entire period from November 8 to December 2, which is not alarming, given the need …

Undisclosed Rs 1.64 crore in Jan Dhan accounts
8 years, 3 months ago

Undisclosed Rs 1.64 crore in Jan Dhan accounts

Deccan Chronicle  

New Delhi: Income tax department has started investigating the sudden surge in funds deposited in Jan Dhan accounts post- demonetisation of Rs 500 and Rs 1,000 currency notes on November 8. The I-T department said on Friday that its investigations across India into the sudden surge in cash deposits in Jan Dhan accounts have revealed various inconsistencies. During its investigation, …

Jan Dhan accounts become fodder of politics in MP’s Jhabua
8 years, 4 months ago

Jan Dhan accounts become fodder of politics in MP’s Jhabua

Hindustan Times  

Sudden deposit of huge amount of money in zero-balance Jan Dhan bank accounts in the Jhabua district has triggered a war of words between the ruling Bharatiya Janata Party and the opposition Congress. The Centre is looking into sudden popping up of money into zero-balance Jan Dhan accounts, after Rs 2 lakh crore of cash flooded the banking system within …

Demonetisation impact: Jan Dhan accounts in Odisha flush with cash
8 years, 4 months ago

Demonetisation impact: Jan Dhan accounts in Odisha flush with cash

Firstpost  

The hitherto dormant Pradhan Mantri Jan Dhan Yojana accounts in nationalised banks have now sprung to life and are flush with cash in several parts of Odisha, thanks to demonetisation drive. Kendrapara and Jagatsinghpur districts account for 3.75 lakh Jan Dhan accounts, officials said. An official of a nationalised bank said, “There has been impressive growth in cash deposits in …

Demonetisation: IT sleuths begin crackdown on 'Pakistan money laundering model'
8 years, 4 months ago

Demonetisation: IT sleuths begin crackdown on 'Pakistan money laundering model'

Firstpost  

New Delhi: For the next one month, Income Tax and economic intelligence sleuths will be out in force across the country looking for real beneficiaries of around 771 accounts that they fear was hired from small depositors on monthly rent to wire unusually large sums following the government decision on 8 November, to withdraw high value currency notes to tackle …

Demonetisation: Accounts with high deposits on I-T radar; Rs 15 cr seized in raids
8 years, 4 months ago

Demonetisation: Accounts with high deposits on I-T radar; Rs 15 cr seized in raids

Hindustan Times  

After the demonetisation move, the income tax department started tightening the screws around bank accounts with high deposits, and intensified its drive to trace unaccounted cash stashed in scrapped `500 and `1000 notes, seizing `15 crore so far in the state. West Singhbhum police will hand over the seized `20 lakh to us tomorrow, and we will summon the arrested …

Forget allegations, Jan Dhan deposits are on the rise and have crossed Rs 42,000 cr, say officials
8 years, 6 months ago

Forget allegations, Jan Dhan deposits are on the rise and have crossed Rs 42,000 cr, say officials

Firstpost  

There were reports that some bankers have deliberately deposited small amount in PMJDY accounts so that they do not remain under the category of zero balance. New Delhi: Amid Opposition’s criticism of alleged manipulation in Jan Dhan figures, government officials said on Wednesday that deposits under this flagship financial inclusion scheme has crossed Rs 42,000 crore-mark and the percentage of …

‘One-rupee’ accounts, Nagla Fatela: It’s time Modi-government did some fact-checking
8 years, 6 months ago

‘One-rupee’ accounts, Nagla Fatela: It’s time Modi-government did some fact-checking

Firstpost  

An Indian Express report on Tuesday has revealed the story of how bankers are depositing small amounts, as low as one rupee, in several zero balance accounts opened in their branches under Prime Minister Narendra Modi’s 2014 Jan Dhan Yojana scheme. Further, the Express report, quoting information received from an RTI query, says that 18 public sector banks and their …

Modi's Jan Dhan scheme: How banks are depositing Re 1 to reduce zero-balance accounts
8 years, 6 months ago

Modi's Jan Dhan scheme: How banks are depositing Re 1 to reduce zero-balance accounts

Firstpost  

The Narendra Modi government’s flagship scheme, the Jan Dhan, which was launched with much fanfare in August 2014, is facing rough waters. As per the report, several zero-balance Jan Dhan accounts held by poor people became operational after banking officials deliberately deposited Re 1 into their accounts. The report suggests that such zero-balance accounts formed almost half of the Rs …

Jan Dhan reality check: Manmohan Singh's criticism is indeed right but only partially
8 years, 11 months ago

Jan Dhan reality check: Manmohan Singh's criticism is indeed right but only partially

Firstpost  

Unless the livelihood issues are resolved first, there is very little these bank accounts alone can do If there is one thing Prime Minister Narendra Modi highlights in most of his foreign trips, it is the achievement his government has made with respect to the massive bank account opening drive under his flagship scheme Jan Dhan Yojana. The numbers indeed …

Deposits in Jan Dhan accounts cross Rs 30,000 crore
9 years, 2 months ago

Deposits in Jan Dhan accounts cross Rs 30,000 crore

Firstpost  

Deposits in accounts opened under the government’s flagship financial inclusion programme – Pradhan Mantri Jan Dhan Yojana – have crossed the Rs 30,000 crore mark New Delhi: Deposits in accounts opened under the government’s flagship financial inclusion programme – Pradhan Mantri Jan Dhan Yojana – have crossed the Rs 30,000 crore mark. As many as 20.38 crore bank accounts were …

Banks open 10.3 crore Jan Dhan accounts so far: Hasmukh Adhia
10 years, 3 months ago

Banks open 10.3 crore Jan Dhan accounts so far: Hasmukh Adhia

Firstpost  

Under this, any financially excluded individual could inform a bank that he or she does not have an account and the bank account would be opened immediately, Financial Services secretary Hasmukh Adhia said in Pune. Pune: Not leaving any stone unturned in achieving complete success in ambitious financial inclusion scheme Pradhan Mantri Jan Dhan Yojna, the finance ministry would enter …

Jan Dhan may get Modi into Guinness book, but duplicate accounts will burden banks
10 years, 4 months ago

Jan Dhan may get Modi into Guinness book, but duplicate accounts will burden banks

Firstpost  

In the absence of a careful approach, as the RBI highlighted, 7.5 crore zero-balance accounts will become a liability to the system The Narendra Modi government is in dialogues with the Guinness World Records team to bag a record for the government for opening maximum number of bank accounts in minimum number of days, according to persons familiar with the …

Jan Dhan account opening target will be met by December-end: Finance Ministry
10 years, 5 months ago

Jan Dhan account opening target will be met by December-end: Finance Ministry

India TV News  

New Delhi: Finance Ministry exuded confidence that the target of opening 7.5 crore bank accounts under the Pradhan Mantri Jan Dhan Yojana would be met by December-end. While launching the PMJDY, Prime Minister Narendra Modi had exhorted the concerned officials to complete the task of opening 7.5 crore accounts before the next Republic Day, which falls on January 26. When …

Jan Dhan accounts cross 5 cr mark, banks collect over Rs 3500 cr
10 years, 6 months ago

Jan Dhan accounts cross 5 cr mark, banks collect over Rs 3500 cr

India TV News  

Mumbai: Banks have opened a whopping five crore accounts under the Jan Dhan scheme till September 25 and collected over Rs. Led by state-run banks, the system has opened over 5 crore accounts under the Jan Dhan scheme as of September 25 and the deposits collected through the scheme have crossed Rs. The Jan Dhan scheme was announced by Prime …

Jan Dhan accounts cross 5 cr mark, banks collect over Rs 3,500 cr
10 years, 6 months ago

Jan Dhan accounts cross 5 cr mark, banks collect over Rs 3,500 cr

Firstpost  

The Jan Dhan scheme was announced by Prime Minister Narendra Modi during his Independence Day address and was formally launched on 28 August. Mumbai: Banks have opened a whopping five crore accounts under the Jan Dhan scheme till 25 September and collected over Rs 3,500 crore in deposits, a top finance ministry official said in Mumbai today. Led by state-run …

Poor start for Prime Minister Jan Dhan Yojana in Manipur
10 years, 7 months ago

Poor start for Prime Minister Jan Dhan Yojana in Manipur

The Hindu  

The Prime Minister Jan Dhan Yojana to provide banking facilities to every household got off to a poor start in Manipur on Thursday. Ever since insurgents resorted to bank heists and pseudo insurgents started demanding illegal taxes and hefty loans from banks, cash transactions have been stopped. For decades, Ministers have been saying that developmental and self-employment schemes failed to …

Jan Dhan: bankers cross account opening targets on Day 1
10 years, 7 months ago

Jan Dhan: bankers cross account opening targets on Day 1

The Hindu  

Bankers have hailed the Prime Minister’s call to end ‘financial untouchability’, and opened millions of accounts on the inaugural day itself. State Bank of India, the country’s largest lender, said it had already opened 20 lakh basic savings accounts since August 16, and the top management was on the field, supervising the account opening process. State-run IDBI Bank said it …

Govt Seeks Audit Of Union Bank Banches For High-value Transactions
15 years, 4 months ago

Govt Seeks Audit Of Union Bank Banches For High-value Transactions

India TV News  

Taking a serious note of Union Bank of India not reporting high-value transactions to it, the government has asked the state-owned bank to immediately carry out an audit of all its branches to check for such large deposits that have gone unreported. The Income Tax department, during a probe into alleged money laundering by former Jharkhand chief minister Madhu Koda, …

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