Mumbai, June 21: President of Bharatiya Janata Party (BJP), Amit Shah found himself in yet another controversy, on Thursday, after a bank under his directorship, was revealed to be the highest deposit-gainer in the aftermath of Demonetisation, as per an RTI reply. The District Cooperative Bank, of which Amit Shah is a Director, saw the maximum number of old notes, i.e. denomination of Rs. 500 and Rs, 1000, being deposited in the same account.

All the District Cooperative Banks were said to discontinue taking old currency notes, five days after the announcement made by PM Narendra Modi on November 8. The bank’s official website still shows Amit Shah as the Director of the bank. Also, he was in the post of Chairman in the year 2000.

Even if the deposits were allowed till only November 24, the Ahmedabad District Cooperative Bank (ADCB), of whom Amit Shah is the Director, saw a huge collection of Rs. 745.59 crores – a huge spike! The total collection the bank made during the financial year 2016-17 was 5,050 crore and registered a net profit of Rs 14.31 crore.

Mumbai activist, who had filed an RTI, Manoranjan S. Roy said, “The amount of deposits made in the State Cooperative Banks (SCBs) and District Central Cooperative Banks (DCCBs) -- revealed under RTI for the first time since demonetisation -- are astounding.”

It is also reported that only seven Public Sector Banks (PSBs), 32 SCBs, 370 DCCBs, and a little over three-dozen post offices across India collected Rs 7.91 lakh crore ­­– more than half (52 percent) of the total amount of old currencies of Rs 15.28 lakh crore deposited with the RBI.

The break-up of Rs 7.91 lakh crore mentioned in the RTI replies shows that the value of spiked notes deposited with the RBI by the seven PSBs was Rs 7.57 lakh crore, the 32 SCBs gave in Rs 6,407 crore and the 370 DCCBs brought in Rs 22,271 crore. Old notes deposited by 39 post offices were worth Rs 4,408 crore.

The RTI information was given by the Chief General Manager and Appellate Authority, S. Saravanavel, of the National Bank for Agriculture & Rural Development (NABARD). With IANS Inputs.

(The above story first appeared on LatestLY on Jun 21, 2018 06:41 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).