PM Modi asks BJP MPs, MLAs to submit bank transaction details since demonetization

Prime Minister Narendra Modi on Tuesday asked all the BJP MPs and MLAs to furnish their bank details, including a list of account transactions between November 8 and December 31.

The details, according to sources, need to be submitted to BJP president Amit Shah by January 1, 2017.

Modi announced the demonetisation of Rs 500 and Rs 1,000 notes on November 8, allowing those in possession of the now defunct currency to get it exchanged by depositing it in bank accounts by December 30.

The Prime Minister’s instruction came at a BJP Parliamentary Party meeting held in New Delhi today, following allegations by opposition parties that the party had tipped off some of its own leaders ahead of the announcement.

While addressing the meet, he also rejected allegations that the Income Tax Amendment Bill presented in the Lok Sabha on Monday was aimed at converting black money into white.

“The amendment is not for turning black money into white but to spend the money looted from the poor on their welfare,” he said.

Modi also sought support from everyone to make India a digital and cashless economy. Addressing the lawmakers, BJP chief Shah asked the BJP MPs to encourage traders within their constituencies to shift to cashless transactions.

The instructions came a day after Finance Minister Arun Jaitley introduced a bill in the Lok Sabha to amend the Income Tax rules, levying a tax, penalty and surcharge of 50 percent on undisclosed income deposited post demonetization and 85 percent on undeclared income unearthed by the tax department.

Following the meet, Parliamentary Affairs Minister Ananth Kumar told reporters that the bill is part of his government’s fight against black money and that a part of the collected money will be spent on irrigation, housing, toilets, infrastructure, primary education, primary health and livelihood-related projects.