The One Rupee Trick: An Express Investigation

Bank officials are quietly making one-rupee deposits, many from their own allowances, some from money kept aside for office maintenance, according to the Indian express. This was revealed after the Express investigated information obtained from more than 30 nationalised and regional rural banks under the RTI. Their ostensible goal: to reduce the tally of zero-balance accounts.

The bank officials used the short-cut of the one-rupee deposit to reduce the tally. According to the RTI information provided, 18 public sector banks and their 16 regional rural subsidiaries held 1.05 crore Jan Dhan accounts with deposits of Re 1.