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.

WATCH VIDEO: Demonetisation: Banks Provide New Rs 500 Notes

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.

For all the latest India News, download Indian Express App now

First Published on: November 15, 2016 12:57 pm
  1. A
    Abhinav Gour
    Nov 15, 2016 at 11:46 am
    s, so 1st day = one finger, 2nd day= 2nd finget, what will u do after 10 fingers, toes ?
    Reply
    1. B
      bonku
      Nov 15, 2016 at 7:13 pm
      I have few question. It seems that bank officials do have access to the new currency and also the power to manite the calculation of money deposited by someone. It give them huge benefit if any of them like to use it to get some extra money as side business. lt;br/gt;1) Charge some 'fee' to get your old notes exchanged easily. lt;br/gt;2) If a poorer person deposit well below the limit (to raise red flag), then inflate his/her amount and shift some money from a person who deposited more than that limit- just like some airlines penger do to avoid fee for extra luggage. Of course, they will do it for a fee.
      Reply
      1. B
        bonku
        Nov 15, 2016 at 7:09 pm
        Insane policy to start with and more insanity to sustain that- just like lie-- one lie to hide another.. So, will there be specific finger to put that ink for a specific day of exchange? What will happen in next week- BTW, we have only five fingers in one hand and we have two hands...
        Reply
        1. J
          Jayo khan
          Nov 15, 2016 at 12:34 pm
          But tell me how can builders like umroa Singh ostwal escape the law when its building in Mira road , ostwal builder Paradise was found illegal WO oc . he vanquished and came back as most foremost dvelloper in Mira road . a criminal and now businessman ha ha Haas . we are real fools . hehhas now made investment in agro farms and even listed them so black money has become white .
          Reply
          1. J
            Jayo khan
            Nov 15, 2016 at 8:45 am
            Govt is not even interested in our comments they are doing what they like what kind of democracy is this . democracy is limited to voting . we should referrumdum law in place as soon 10% netizens trigger reffredum button govt should call for that . jiyo democracy
            Reply
            1. J
              Jayo khan
              Nov 15, 2016 at 8:15 am
              Ostwal builders built ostwal Paradise in Mira road without legal permission s in place and in midnight mbmc came with demolition notice the umroa Singh ostwal went underground. But when he reemerged as more powerful. How that's possible. Tell me oh govt . shall we take tea or poison
              Reply
              1. J
                Jayo khan
                Nov 15, 2016 at 8:12 am
                To flush out black money fake procedure the govt might ask you black your face one day. Arey govt try to understand the woes of simple netizens who have nothing to do anything but are caught in cob web. Pls check ostwal builders in Mira road that crony eaten how many netizens , peoples HV committed suicides due to him. He is c.a that doesn't qualify him to do so neither as he is bj p supported
                Reply
                1. J
                  Jayo khan
                  Nov 15, 2016 at 8:47 am
                  We have one of best I.t intellect s who can calibre the software overnight so why ink that also black.
                  Reply
                  1. J
                    Jayo khan
                    Nov 15, 2016 at 8:27 am
                    Where ate my comments, we are foolish to put comments in I.e
                    Reply
                    1. R
                      Raman
                      Nov 15, 2016 at 8:35 am
                      Instead of using ink, enter the exchange linked with account no. And aadhar, voter id, in online database linking all banks and post office. once entered next time msg should display that already availed today.
                      Reply
                      1. N
                        Navan
                        Nov 15, 2016 at 7:48 am
                        In Kashmir, the paid stone pelters, paid terrorists, and paid separatists have gone silent now. Whatever 500 or 1000 notes they received from Agents have all become worthless. Hope the Paid media also stops its anti-national coverage.
                        Reply
                        1. T
                          Trun
                          Nov 15, 2016 at 1:55 pm
                          I was standing in quee for three hours and finally syndicate bank exchanged 1000/- rupee from the alloted 4500/-,so I understand bank will write on my fingers amount exchanged with that ink? And the balance I will stand in another quee in another bank another day,to exchange and that bank will write the balance amount exchanged?
                          Reply
                          1. Z
                            Zas
                            Nov 15, 2016 at 8:56 am
                            Stupids instead of catching big crocs they are troubling common man
                            Reply
                            1. P
                              Prabeen
                              Nov 15, 2016 at 8:00 am
                              Put ink on finger which is not used during election. So simple. Great step Modiji
                              Reply
                              1. R
                                Roger That
                                Nov 15, 2016 at 8:20 am
                                But will it vanish overnight, If I go again tomorrow to withdraw what will happen.
                                Reply
                                1. R
                                  Roger That
                                  Nov 15, 2016 at 8:43 am
                                  Hate when people with different view are tagged as paid stooges
                                  Reply
                                  1. R
                                    Roger That
                                    Nov 15, 2016 at 8:28 am
                                    How many days the ink will last, what will happen if I go on two consecutive days.
                                    Reply
                                    1. R
                                      Roger That
                                      Nov 15, 2016 at 8:21 am
                                      Soon we will get news that people with ink mark are being attacked for cash
                                      Reply
                                      1. G
                                        george
                                        Nov 15, 2016 at 7:58 am
                                        Man, you must be stupid to repeat what these brainless fellows in government feed you through media. The ultimate aim is to stifle the black money pouring into political parties just before crucial election. There is enough cash converted for ruling party in September. One good thing is that inflation might come down, well, at the expense of poor man.
                                        Reply
                                        1. D
                                          Dinesh Singh Bisht
                                          Nov 15, 2016 at 4:51 pm
                                          The new currency should be exchanged via saving bank account only. The limit of rs. 4000/- could also be raised. For the person not having saving bank account or current account he may be asked to open a account so that he could get the new currency.
                                          Reply
                                          1. B
                                            Brahm Gaur
                                            Nov 15, 2016 at 8:25 am
                                            United opposition is also at work in the comments column. Paid comments by the opposition parties.
                                            Reply
                                            1. Load More Comments