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Originally published by The New Indian Express, deleted without explanation.

MUMBAI: A district cooperative bank, which has Bharatiya Janata Party (BJP) President Amit Shah as a director, netted the highest deposits among such banks of old Rs 500 and Rs 1,000 notes that were abruptly demonetised on November 8, 2016, according to RTI replies received by a Mumbai activist.

The Ahmedabad District Cooperative Bank (ADCB) secured deposits of Rs 745.59 crore of the spiked notes -- in just five days after Prime Minister Narendra Modi made the demonetisation announcement. All the district cooperative banks were banned from accepting deposits of the banned currency notes from the public after November 14, 2016, -- five days after demonetisation -- on fears that black money would be laundered through this route.

According to the bank's website, Shah continues to be a director with the bank and has been in that position for several years. He was also the bank's chairman in 2000. ADCB's total deposits on March 31, 2017, were Rs 5,050 crore and its net profit for 2016-17 was Rs 14.31 crore.

Right behind ADCB, is the Rajkot District Cooperative Bank, whose chairman Jayeshbhai Vitthalbhai Radadiya is a cabinet minister in Gujarat Chief Minister Vijay Rupani's government. It got deposits of old currencies worth Rs 693.19 crore.

Interestingly, Rajkot is the hub of Gujarat BJP politics -- Prime Minister Modi was first elected from there as a legislator in 2001.

ADC bank board of directors screenshot - click to enlarge.

Incidentally, the figures of Ahmedabad-Rajkot DCCBs are much higher than the apex Gujarat State Cooperative Bank Ltd, which got deposits of a mere Rs 1.11 crore.

"The amount of deposits made in the State Cooperative Banks (SCBs) and District Central Cooperative Banks (DCCBs) -- revealed under RTI for first time since demonetisation -- are astounding," Manoranjan S. Roy, the RTI activist who made the effort to get the information, told IANS.

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

It has also come to light, through the RTI queries, 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 per cent) 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.

Information from all the SCBs and DCCBs across India were received through the replies. The seven PSBs account for around 29,000 branches -- out of the over 92,500 branches of the 21 PSBs in India -- according to data published by the RBI. The 14 other PSBs declined to gave information on one ground or the other. There are around 155,000 post offices in the country.

Fifteen months after demonetisation, the government had announced that Rs 15.28 Lakh crore -- or 99 per cent of the cancelled notes worth Rs 15.44 lakh crore -- were returned to the RBI treasury.

Roy said it was a serious matter if only a few banks and their branches and a handful post offices, apart from SCBs and DCCBs, accounted for over half the old currency notes.

"At this rate, serious questions arise about the actual collection of spiked notes through the remaining 14 mega-PSBs, besides rural-urban banks, private banks (like ICICI, HDFC and others), local cooperatives, Jankalyan Banks and credit cooperatives and other entities with banking licenses, the figures of which are not made available under RTI," he said.

The SCBs were allowed to exchange or take deposits of banned notes till December 30, 2016 -- for a little over seven weeks, in contrast to district cooperative banks which were allowed only five days of transactions.

The prime minister during his demonetisation speech had said that Rs 500 and Rs 1,000 notes could be deposited in bank or post office accounts from November 10 till close of banking hours on December 30, 2016, without any limit. "Thus you will have 50 days to deposit your notes and there is no need for panic," he had said.

After an uproar, mostly from BJP allies, the government also opened a small window in mid-2017, during the presidential elections, allowing the 32 SCBs and 370 DCCBs -- largely owned, managed or controlled by politicians of various parties -- to deposit their stocks of the spiked notes with the RBI. The move was strongly criticised by the Congress and other major Opposition parties.

Among the SCBs, the Maharashtra State Cooperative Bank topped the list of depositors with Rs 1,128 crore from 55 branches and the smallest share of Rs 5.94 crore came from just five branches of Jharkhand State Cooperative Bank, according to the replies.

Surprisingly, the Andaman & Nicobar State Cooperative Bank's share (from 29 branches) was Rs 85.76 crore.

While Maharashtra has a population of 12 crore, Jharkhand's population is 3.6 crore. Andaman & Nicobar Islands have less than four lakh residents.

The poorest of all the cooperative banks in the country is Banki Central Cooperative Bank Ltd in Odisha, which admitted to receiving zero deposits of the spiked currency.

Of the total 21 PSBs, State Bank of India, Bank of Baroda, Bank of Maharashtra, Central Bank of India, Dena Bank, Indian Overseas Bank, Punjab & Sindh Bank, Vijaya Bank, Andhra Bank, Syndicate Bank, UCO Bank, United Bank of India, Oriental Bank of Commerce, and IDBI Bank (14 banks) -- with over 63,500 branches amongst them -- did not give any information on deposits.

22

The earthquake in Sikkim on the 18th September 2011 has created massive devastation. North Sikkim has been destroyed on a massive scale. This is a time to use your vacation time and money to go to Sikkim with help in your heart.

http://www.youtube.com/watch?v=VfEbt0x_bZI

The destruction has dwarfed the constant pouring of money and effort into rescue and rehabilitation and many people are still to receive assistance.

With thousands of homes obliterated, and winter around the corner, the goal of rehabilitation is challenging and overwhelmingly large.

Last night, yet another smaller earthquake rocked the region.

In the midst of all this, rescue workers are fighting to save lives.

Many Indians are generously asking for where they can donate, but there is more that can be done. It isn't just about money, it is about getting work done. Consider trying to see what all you can do, rather than think of how much money you can give alone.

Presenting here the needs, the organizations on the ground that can be supported with money, supplies and labour.

Donations for Sikkim

Principal Resident Commissioner, Office nos. 26115013/ 26113747/26883026.

Principal Resident Commissioner, Sikkim House, Delhi; contact: 9968846087.

Office of Resident Commissioner Delhi may also be approached for delivery of relief items.

 

Sikkim govt contact nos. 03592-201664 (O), 03592-202932 (F).

Relief items may be dispatched to BK Kharel, Secy, Land revenue-cum-relief commissioner.

State Bank of Sikkim, Gangtok, CM's Relief Fund A/C 464, main branch.

 

For donations from outside Sikkim: IFSC-Central bank of India No. 282310 main branch.

Donate to USFC & Sikkim Express relief fund at Bank of Baroda (a/c no 24950100005733).

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SEWA

To donate in rupees

Sewa International
49, Deendayal Upadhyaya Marg,
New Delhi -110002, India
Tel: +91 11 23232850 or 23684445
Email: sewainternationaldelhi {at] gmail (dot) com

 

International donations:
Sewa USA Online donations Click here
IDRF Online donations Click here
Sewa UK, Online donations Click here

Payable to “Sewa International” and send detail to:
Sewa International USA
PO Box 14622
Fremont, CA 94539

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Rotary Club of Gangtok South/E D Fund - Donations of money
Raman Shresta - 973310230 (Sikkim)

Bank - Indian Overseas Bank
Branch - Gangtok , Kazi Road
Ac NO - 547
IFSC Code - IOBA0001624
MICR Code - 737020001

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The Sikkim Chamber of Commerce - Cash or Kind

Karma Bhutia at +919434094359 or Ashok Sarda at +919733015188

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The Bar Association of Sikkim - 18th September Earthquake Relief Fund - Cash or Kind

Bhaskar Raj Pradhan, General Secretary 9933355335.

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Sikkim Earthquake Relief - Switzerland - Cash

Account No: 45-82171-8
IBAN: CH0509000000450821718
BIC: POFICHBEXXX
Swiss Post – PostFinance
Nordring 8
CH-3030 Bern

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Vibrant Foundations - Mumbai and Gangtok(Sikkim), NJP and Siliguri - arrange to send cash, relief materials etc to the crisis ridden locations.

WE HOWEVER CANNOT INCUR ANY EXPENDITURE OF ANY KIND.

SHANTANU BARAT 9769584418

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United Sikkim Football Club and Sikkim Express Relief Fund

Account number is - 24950100005733

Bank of Baroda.

RTGS BARB0GANGTO Bank Code 012

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Volunteers

SIKKIM

Raman Shresta - 9733102304
Pema Leyda Shangderpa - 9800081110
Pema Tsewang Topgyal Serdup
Manish Raj Shrestha -
Naresh Raj Shrestha - 9434169663
Pema Wangchuk Dorjee - 9832080753
Bjorn De Niese - 9232855009
Rimp Dorjee - 9733005567
Karchoong - 9800871277
Bhanu Pratap Rasaily - 9733012222
Varsha Shrestha - 9593782847
Jashoda Chettri - 9434384636
Anna Linkit Foning - 7872888083
Mita Zulca - 9593971250
Sarikah Atreya - 9733259520
Mita Zulca - 9593971250

Mumbai:

Vineeta Rao - 9820409208
Amit Mundra - 9820724205/8976099921

Bangalore:

Neeraj Verma - 9845402227 (not available from 10:00 AM to 6:00PM)
Rosina Poudyal - 9739096047

Delhi:

Aekta Chander - 9811471732

Pune:

Shaliya Khan - 9890171116

Hyderabad:

Dipesh Pradhan - 8179469023

Goa:

Nandita Oberoi Sharma - 9011056602

UK

Ashila Wangdi - 0044 7506734889
Karma Wangdi - 0044 7947960712

Dubai (UAE)

Niraj Gurung +971551874483 and +971508821432

Singapore

Tshering Bhutia - +65 90794152.

USA

Naresh Agarwal - +1 617 553 4461 (Boston Area)
Sonam Ongmu - +1 415 990 6180/solasopa@phhp.ufl.edu (Gainesville, Florida)

Canada

Yishey Choden- +1 416 834 5687 yishey@gmail.com

Switzerland

Jenny Bentley -