BENGALURU: About 7,000 bank accounts in Karnataka and Goa are on the income tax department radar as they saw an abnormal increase in deposits after demonetisation was announced on November 8, 2016. The money deposited in these accounts, which included Jan Dhan ones dormant before demonetisation, ran up to Rs 17,000 crore. "We have identified over 7,000 bank accounts which received deposits of Rs 80 lakh and above. We have asked the banks concerned to furnish details about the accounts," said R Ravichandran, director of income tax (I&CI), Bengaluru.The suspected accounts were found in both cooperative and commercial banks. Ravichandran said the I-T department has instructed the banks to alert them about suspect transactions on or before January 31.

Source: Times of India January 22, 2017 12:34 UTC