RTI: Bank With Amit Shah as Director Collected Highest Amount of Banned Notes Among Coop Banks

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An RTI reply has revealed that a district cooperative bank in Gujarat which has BJP chief Amit Shah as its director managed to get the maximum deposits among such banks of banned currency notes of Rs 500 and Rs 1,000 that were put out of circulation after November 8, 2016.

According to the RTI reply received by activist Manoranjan S Roy, Rs 745.59 crore in demonetised notes were deposited in the Ahmedabad District Cooperative Bank (ADCB) in just five days after demonetisation was announced by Prime Minister Narendra Modi.

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“While people of India were suffering in queues, scamsters were converting ‘Black’ to ‘White’”, thundered Congress spokesperson Randeep Surjewala on Friday, June 22. An RTI reply dated May 7, 2018 has revealed that Ahmedabad District Cooperative Bank (ADCB)—one of out of 370 district central co-operative banks in the country—whose directors include BJP’s National President Amit Shah and his “close associates”, received the highest amount of old demonetised ₹500 and ₹1,000 notes.Surjewala at a press conference in Delhi on June 22 alleged that Prime Minister Narendra Modi “choreographed the DeMo, leaving out window for black money hoarders to benefit”.

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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.

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News18, Firstpost, New Indian Express and Times Now among those that took down the story about the cooperative bank in which the BJP president is the director. Network 18 is the parent organisation of Firstpost and News18, which in turn is owned by Mukesh Ambani’s Reliance Industries.

The Economic Times, meanwhile, carried the IANS report about the Ahmedabad District Cooperative Bank, but the BJP President’s name was missing from the copy, even as the same report carried by several other publications mentions Amit Shah in the first line.


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