Modi only has INR4,700 cash in hand

According to the latest details of Modi’s assets disclosed by the PM's Office, he has no bank account in New Delhi

Indian Prime Minister Narendra Modi only has INR4,700 cash in hand, the Times of India reported.

According to the latest details of Modi’s assets disclosed by the Prime Minister's Office, Modi had total “cash in hand” of just INR4,700 at the end of the last fiscal year, down from INR38,700 disclosed on August 18, 2014.

Despite the surprisingly low amount of cash in hand, the Indian premier’s total assets have gone up to INR14.1 million largely due to a residential property he owns that has appreciated by more than 25 times since its purchase over 13 years ago.



Further, the total value of the Indian premier’s movable and immovable assets during the aforementioned period rose from INR12.6 million to INR14.1 million as per a March 31, 2015 declaration.

As per the declaration, Modi who assumed office on May 26, 2014 does not own any vehicles, ships, yachts or aircraft, with bank accounts in Gujarat but none in New Delhi.

While, the Indian prime minister has no loans his jewellery holdings comprise of “four pieces of gold rings” weighing approximately 45 grams, standing at monetary value of INR0.119 million.



The "approximate current market value" of the property Modi owns has been declared as Rs14million, 25-times over the cost of the property during the last 13 years since the purchase. The latest disclosures are updated till January 30, 2016, as per the PMO website.

Modi does not even possess agricultural land, nor any commercial real estate property.

The article originally appeared on The Times of India.