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Money Changers Using Zero-Balance Jan Dhan Accounts

Money Changers Using Zero-Balance Jan Dhan Accounts

Kolkata: Demonetisation has made money changers and entry operators active in managing black money.

Money changers are reported to be using zero-balance Jan Dhan accounts as a vehicle to convert old currency.

"I am getting handsomely paid for depositing up to 2.5 lakh in my Jan Dhan account and withdraw money when the restrictions end," a tea stall employee standing in a queue outside a bank said.

Reportedly, money changers are taking 20-30% cut for the transaction of changing old banned currency with new notes. There are more than 25 crore Jan Dhan accounts.

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