Indelible ink likely to help banks check multiple cash counter visits

The DEA Secretary revealed that the finance ministry has received reports of many trying to convert their black money by sending people in groups to swap currency at bank counters

By: Express Web Desk | New Delhi | Updated: November 15, 2016 7:42 pm
New Delhi : Finance Secretary Ashok Lavasa, Economic Affairs Secretary Shaktikanta Das and Revenue Secretary Hasmukh Adhia during the inauguration of 2-day Economic Editors' conference-2016 in New Delhi on Thursday.PTI Photo by Subhav Shukla(PTI11_10_2016_000114A) New Delhi : Finance Secretary Ashok Lavasa, Economic Affairs Secretary Shaktikanta Das and Revenue Secretary Hasmukh Adhia during the inauguration of 2-day Economic Editors’ conference-2016 in New Delhi on Thursday.PTI Photo by Subhav Shukla(PTI11_10_2016_000114A)

In a major crackdown against those trying to turn black money into white, Economic Affairs Secretary Shaktikant Das Tuesday announced that banks will be using indelible ink, similar to the one used in elections, to deter unscrupulous people from making multiple visits to cash counters in a day. The DEA Secretary revealed that the finance ministry has received reports of many trying to convert their black money by sending people in groups to swap currency at bank counters. “To solve this problem we have decided to use indelible ink marks, similar to the one used in elections, at cash counters,” Das said. He added that the reason for long queues outside the banks is because of the same people joining the queue again at some places. “Have been trying to analyse reasons for long queues,it has come to notice that same people are coming again at same place,” Das said.

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West Bengal Chief Minister Mamata Banerjee, who is leading an united opposition protest against demonetisation, termed the move as a desperate attempt by the government. She wondered what the Elections Commission of India would have to say about this as a few states will be going to by-elections. “Desperate attempt to start a ‘black mechanism’ with indelible ink shows this govt distrusts the common people. Also, there are by-elections on Nov 19. What will the EC say about this decision to put indelible on prospective voters?” She tweeted.

A special task force has been set up to monitor the infusion of fake currency, especially in vulnerable areas, he said. Das rubbished reports of shortage in supply of salt and said there was no reason for the temporary surge in the price. The supply of essential commodities are being closely monitored, he added. Das also denied that a few institutions will be going on strike in protest against the demonetisation, after fake reports started doing rounds on social media . He urged people to not believe such rumours.