Lok Sabha Question No. 1946 (UNSTARRED), answered on 2022-03-14
Subject: Demonetised Currency
Ministry: FINANCE
Asked by: Dayanidhi Maran

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA UNSTARRED QUESTION No. 1946

ANSWERED ON MONDAY, MARCH 14, 2022/ PHALGUNA 23, 1943 (SAKA)

## Demonetised Currency

## 1946.  SHRI DAYANIDHI MARAN

Will the Minister of FINANCE be pleased to state:

(a)  whether  the  Ministry,  RBI  or  NITI  Aayog  have  conducted  any  analysis  or  scrutiny  of demonetized  notes  deposited  in  Jan  Dhan  accounts  after  8  November,  2016  when  the demonetisation  of  all  Rs.  500  and  Rs.  1,000  notes  was  announced  and  if  so,  the  details thereof;

(b) whether the Ministry, RBI or NITI Aayog or any other departments have conducted any study or forensic audit of the number of accounts opened in the year 2016 between March and November  and  the  number  of  accounts  opened  or  created  between  November  2016  and March 2021;

(c) if so, the details thereof, item/year/State-wise along with the data of accounts closed and amounts withdrawn during the same period; and

(d) whether the Ministry, RBI or NITI Aayog have data on the value of demonetised currency deposited and new currency withdrawn through various state cooperatives during the demonetisation period and if so, details thereof, item and State-wise?

## Answer

## The Minister of State in the Ministry of Finance (DR BHAGWAT KARAD)

(a)  to  (c)  The  Government  in  the  Department  of  Revenue  has  apprised  that  based  on information  received  on  suspicious  transactions  from  various  reporting  entities,  Rs  42,187 crore  had  been  deposited  in  3,74,14,844  PMJDY  accounts  during  the  period  8.11.2016  to 30.12.2016. A number of measures have been taken up by the Government, which inter-alia include  collection  of  information  on  cash  transactions,  collating  and  analysis  of  such information, extensive use of information technology and data analytic tools for identification of high-risk cases, expeditious verification of suspect cases, etc. The report has been shared with Law Enforcement Agencies.

(d)  As  informed      by  Reserve  Bank  of  India  (RBI),  Specified  Bank  Notes  (SBNs)  worth ₹6,407.28 crore were exchanged/ deposited by 32 State Cooperative Banks (StCBs) between 10 November 2016 and 31 December 2016. State-wise details are Annexed.

*****

| StCBs- SBNs Exchanged / Deposited after demonetisation(between 10.11.2016 to 31.12.2016) Annexure as referred to in part(d) of reply to Lok Sabha Q.No. 1946 for 14.03.2022   | StCBs- SBNs Exchanged / Deposited after demonetisation(between 10.11.2016 to 31.12.2016) Annexure as referred to in part(d) of reply to Lok Sabha Q.No. 1946 for 14.03.2022   | StCBs- SBNs Exchanged / Deposited after demonetisation(between 10.11.2016 to 31.12.2016) Annexure as referred to in part(d) of reply to Lok Sabha Q.No. 1946 for 14.03.2022   | StCBs- SBNs Exchanged / Deposited after demonetisation(between 10.11.2016 to 31.12.2016) Annexure as referred to in part(d) of reply to Lok Sabha Q.No. 1946 for 14.03.2022   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                               |                                                                                                                                                                               |                                                                                                                                                                               | (Rs Lakh)                                                                                                                                                                     |
| S. No.                                                                                                                                                                        | State                                                                                                                                                                         | Name of StCB Value of SBNs Exchanged/ Deposited                                                                                                                               | Name of StCB Value of SBNs Exchanged/ Deposited                                                                                                                               |
| 1                                                                                                                                                                             | Andaman &Nicobar                                                                                                                                                              | The Andaman &Nicobar State Co-Operative Bank Ltd.                                                                                                                             | 8576.51                                                                                                                                                                       |
| 2                                                                                                                                                                             | Andhra Pradesh                                                                                                                                                                | The Andhra Pradesh State Cooperative Bank Ltd,                                                                                                                                | 5851.34                                                                                                                                                                       |
| 3                                                                                                                                                                             | Arunachal Pradesh                                                                                                                                                             | The Arunachal Pradesh State Co- Perat Ive Apex Bank                                                                                                                           | 6577.23                                                                                                                                                                       |
| 4                                                                                                                                                                             | Assam                                                                                                                                                                         | The Assam Co-Operative Apex Bank Ltd.                                                                                                                                         | 30147.37                                                                                                                                                                      |
| 5                                                                                                                                                                             | Bihar                                                                                                                                                                         | The Bihar State Co-Operative Bank Ltd.                                                                                                                                        | 4371.53                                                                                                                                                                       |
| 6                                                                                                                                                                             | Chandigarh                                                                                                                                                                    | The Chandigarh State Co-Operative Bank Ltd.                                                                                                                                   | 7513.89                                                                                                                                                                       |
| 7                                                                                                                                                                             | Chhattisgarh                                                                                                                                                                  | The Chhattisgarh Rajya Sahakari Bank Maryadit                                                                                                                                 | 3252.64                                                                                                                                                                       |
| 8                                                                                                                                                                             | Goa                                                                                                                                                                           | The Goa State Co-Operative Bank Ltd.                                                                                                                                          | 34462.02                                                                                                                                                                      |
| 9                                                                                                                                                                             | Gujarat                                                                                                                                                                       | The Gujarat State Co-Operative Bank Ltd.                                                                                                                                      | 11085                                                                                                                                                                         |
| 10                                                                                                                                                                            | Haryana                                                                                                                                                                       | The Haryana State Co-Operative Apex Bank Ltd.                                                                                                                                 | 4497.76                                                                                                                                                                       |
| 11                                                                                                                                                                            | Himachal Pradesh                                                                                                                                                              | The Himachal Pradesh State Co-Operative Bank Ltd.                                                                                                                             | 68340                                                                                                                                                                         |
| 12                                                                                                                                                                            | Jammu and Kashmir                                                                                                                                                             | The Jammu &Kashmir State Co-Operative Bank Ltd.                                                                                                                               | 8170.64                                                                                                                                                                       |
| 13                                                                                                                                                                            | Jharkhand                                                                                                                                                                     | The Jharkhand State Co-Operative Bank Ltd.                                                                                                                                    | 593.89                                                                                                                                                                        |
| 14                                                                                                                                                                            | Karnataka                                                                                                                                                                     | The Karnataka State Co-Operative Apex Bank Ltd.                                                                                                                               | 37122.71                                                                                                                                                                      |
| 15                                                                                                                                                                            | Kerala                                                                                                                                                                        | The Kerala State Co-Operative Bankltd.                                                                                                                                        | 34963.5                                                                                                                                                                       |
| 16                                                                                                                                                                            | Madhya Pradesh                                                                                                                                                                | The Madhya Pradesh Rajya Sahakari Bank Maryadit                                                                                                                               | 8771.78                                                                                                                                                                       |
| 17                                                                                                                                                                            | Maharashtra                                                                                                                                                                   | The Maharashtra State Co-Operative Bank Ltd.                                                                                                                                  | 112844.45                                                                                                                                                                     |
| 18                                                                                                                                                                            | Manipur                                                                                                                                                                       | Themanipur State Co-Operative Bank Ltd.                                                                                                                                       | 7070.77                                                                                                                                                                       |
| 19                                                                                                                                                                            | Meghalaya                                                                                                                                                                     | The Meghalaya Co-Operative Apex Bank Ltd.                                                                                                                                     | 33514.79                                                                                                                                                                      |
| 20                                                                                                                                                                            | Nagaland                                                                                                                                                                      | The Nagaland State Co-Operative Bank Ltd.                                                                                                                                     | 14377.63                                                                                                                                                                      |
| 21                                                                                                                                                                            | New Delhi                                                                                                                                                                     | The Delhi State Co-Operative Bank Ltd.                                                                                                                                        | 37528.11                                                                                                                                                                      |
| 22                                                                                                                                                                            | Odisha                                                                                                                                                                        | The Orissa State Co-Operative Bank Ltd.                                                                                                                                       | 4697.29                                                                                                                                                                       |
| 23                                                                                                                                                                            | Puducherry                                                                                                                                                                    | The Pondicherry State Co-Operative Bank Ltd.                                                                                                                                  | 7414.33                                                                                                                                                                       |
| 24                                                                                                                                                                            | Punjab                                                                                                                                                                        | The Punjab State Co-Operative Bank Ltd.                                                                                                                                       | 5415.44                                                                                                                                                                       |
| 25                                                                                                                                                                            | Rajasthan                                                                                                                                                                     | The Rajasthan State Co-Operative Bank Ltd.                                                                                                                                    | 13781.64                                                                                                                                                                      |
| 28                                                                                                                                                                            | Sikkim                                                                                                                                                                        | The Sikkim State Co-Operative Bank Ltd.                                                                                                                                       | 2012.91                                                                                                                                                                       |
| 27                                                                                                                                                                            | Tamil Nadu                                                                                                                                                                    | The Tamil Nadu State Apex Co-Operative Bank Ltd.                                                                                                                              | 38290.15                                                                                                                                                                      |
| 28                                                                                                                                                                            | Telangana                                                                                                                                                                     | The Telangana State Co-Operative Bank Ltd.                                                                                                                                    | 27809.33                                                                                                                                                                      |
| 29                                                                                                                                                                            | Tripura                                                                                                                                                                       | The Tripura State Co-Operative Bank Ltd.                                                                                                                                      | 13401.21                                                                                                                                                                      |
| 30                                                                                                                                                                            | Uttarakhand                                                                                                                                                                   | The Uttarakhand State Co-Operative Bank Ltd                                                                                                                                   | 6730.23                                                                                                                                                                       |
| 31                                                                                                                                                                            | Uttar Pradesh                                                                                                                                                                 | The Uttar Pradesh State Co-Operative Bank Ltd.                                                                                                                                | 16383.83                                                                                                                                                                      |
| 32                                                                                                                                                                            | West Bengal                                                                                                                                                                   | The West Bengal State Co-Operative Bank Ltd.                                                                                                                                  | 25157.94                                                                                                                                                                      |
| Source: Reserve Bank of India                                                                                                                                                 | Source: Reserve Bank of India                                                                                                                                                 | Total                                                                                                                                                                         | 640727.86                                                                                                                                                                     |