Arun Jaitley gives numbers on black money

NEW DELHI: Government agencies have conducted over 1,100 searches and issued 5,100 notices to verify suspicious high-value cash deposits post demonetisation.

Valuables worth over Rs 610 crore and Rs 513 crore cash were seized. “Undisclosed income detected till January 10, 2017 was more than Rs 5,400 crore,” said finance minister Arun Jaitley in Lok Sabha. Seized currency included Rs 110 crore in the form of new Rs 500 and Rs 2,000 notes.

“This exercise is part of the government's resolve to eliminate corruption, black money, counterfeit currency and terror funding,” said the finance minister. Jaitley said 156 senior officials of state-owned banks have been suspended and 41 transferred after discovery of irregularities related to demonetisation.