To ease the pressure on banks and to check multiple old currency exchanges made by the same person, Department of Economic Affairs secretary Shaktikanta Das today in a press conference announced that indelible ink will be used in banks to mark people attempting multiple exchanges of old currency. This will ensure every person gets a fair chance to exchange his/her currency.
Das told the media that PM Narendra Modi held a second review meeting on demonetisation with officials of the Finance Ministry and the Reserve Bank of India (RBI) to ascertain why there continued to be such long queues at banks.
Das, reasoning the move, said that unscrupulous elements have organised groups of innocent people and are sending them from one branch to another to exchange old currency, so one finds same people again and again, adding to the long queues and woes of the common people.
"Operating instructions will be issued to banks on how to use indelible ink. From today, this process will start in all major cities", he said.
He further said that the decision of using indelible ink was being considered internally earlier and from today it will be implemented across major cities of the country.
Das also appealed to religious places such as temples and churches to deposit smaller denomination currency they receive as donation, so that those notes and coins can be recirculated to the public.
He also appealed to the holders of Jan Dhan accounts to not let other people use their account to turn their black money into white. He mentioned that it has come to notice that many Jan Dhan accounts are now having Rs 49,000 and those accounts are being investigated.
He also mentioned that all cabinet secretaries are monitoring supply and availability of essential commodities across the country and coordination group will monitor all the measure announced today and in the last 3-4 days.
Refer:http://economictimes.indiatimes.com/
Das told the media that PM Narendra Modi held a second review meeting on demonetisation with officials of the Finance Ministry and the Reserve Bank of India (RBI) to ascertain why there continued to be such long queues at banks.
Das, reasoning the move, said that unscrupulous elements have organised groups of innocent people and are sending them from one branch to another to exchange old currency, so one finds same people again and again, adding to the long queues and woes of the common people.
"Operating instructions will be issued to banks on how to use indelible ink. From today, this process will start in all major cities", he said.
He further said that the decision of using indelible ink was being considered internally earlier and from today it will be implemented across major cities of the country.
Das also appealed to religious places such as temples and churches to deposit smaller denomination currency they receive as donation, so that those notes and coins can be recirculated to the public.
He also appealed to the holders of Jan Dhan accounts to not let other people use their account to turn their black money into white. He mentioned that it has come to notice that many Jan Dhan accounts are now having Rs 49,000 and those accounts are being investigated.
He also mentioned that all cabinet secretaries are monitoring supply and availability of essential commodities across the country and coordination group will monitor all the measure announced today and in the last 3-4 days.
Refer:http://economictimes.indiatimes.com/
The decision of using indelible ink was being considered internally earlier and from today it will be implemented across major cities of the country. It can help to reduce fake currency.
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