Demonetisation: Banks start using indelible ink to check repeat money exchange

The indelible ink is supplied to the bank/post offices by Indian Banks' Association (IBA) in coordination with the banks and consultation with RBI.

By: PTI | Updated: November 16, 2016 7:08 pm
Demonetisation, Demonetisation banks, Demonetisation news, indelible ink, black money Identified bank branches are provided with black indelible ink bottles of 5 ml each and the cap of the bottle includes a small brush for applying the ink.

To stop repeat money exchangers thronging banks with invalid currency notes, banks have started applying indelible ink mark on the right hand index finger of customers in the select metro cities. SBI and few other banks in Delhi have started using indelible ink. As per the government statement, 11 branches of SBI are using the method to weed out customers queuing up again and again to exchange invalid currency notes. As per the Standard Operating Procedure (SOP) for exchanging notes, concerned bank branches and post offices would put indelible ink mark on the right index finger of the customer so as to identify that he/she has exchanged the old currency notes once.

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The move comes amid reports of long queues and chaotic scenes at banks and ATMs across the country for past several days after Prime Minister Narendra Modi last week announced the withdrawal of old Rs 500/1000 notes in the biggest crackdown on black money, corruption and counterfeit currency. The notes withdrawn accounted for 86 per cent of the cash circulating in the Asia’s third-largest economy.

The indelible ink is supplied to the bank/post offices by Indian Banks’ Association (IBA) in coordination with the banks and consultation with RBI. This procedure is being introduced to begin with in the metro cities and expanded to other areas later, the RBI said in a statement.

Identified bank branches are provided with black indelible ink bottles of 5 ml each and the cap of the bottle
includes a small brush for applying the ink. According to SOP released by the RBI, indelible ink can be applied by the cashier or any other official designated by the bank before the notes are given to the customer so that while the exchange of notes is taking place, a few seconds elapse which will allow the ink to dry up and prevent removal of ink.

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Indelible ink on the index finger of the left hand or any other finger of the left hand cannot be used.

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  1. I
    IndianWellWisher
    Nov 16, 2016 at 2:51 pm
    Support demonetisation 100%lt;br/gt;Heads should roll of those who messed up the implementationlt;br/gt;What a disgusting bunch, these banking employees - they are not in control of their ATMs, no 500s even after 8 days, I see only 2000s and few 100s
    Reply
    1. S
      Suraj
      Nov 16, 2016 at 3:12 pm
      So bank employees should print currency on their own and skip the RBI. What a new level of ludicrousy. And the people you call disgusting bunch are sitting w day not getting their weekly off. Still serving w country. Not sone privileged brat who has a phone and a credit card to waste time commenting on unmoderated newspaper comment column.
      Reply
      1. S
        sham
        Nov 16, 2016 at 12:41 pm
        NARENDRA DAMODARDAS MODI--lt;br/gt;PROVE TO INDIANS THAT YOU ARE NOT JUST ANOTHER HILLARY CLINTON .lt;br/gt;WE INDIANS WANT TO KNOW WHO IS KENYAN BORN URJIT PATEL-- DOES HE HAVE A FAMILY ? lt;br/gt;WHO IS URJIT PATELs WIFE ? lt;br/gt;WHICH FAMILY IS SHE FROM ?lt;br/gt;INDIA IS NOT A BANANA REPUBLIClt;br/gt;lt;br/gt;Who is the Wife of RBI Governor URJIT PATEL , why is this national secret lt;br/gt;how is Urjit patel related to Ambani lt;br/gt;why is Kenya national till 2013 Urjit Patel suddenly become Indian national lt;br/gt;lt;br/gt;Google Ajit Vadakayil blogspot dot com
        Reply
        1. G
          gc
          Nov 16, 2016 at 1:00 pm
          Whosoever takes the old note has to go to bank and bring it to the system.That itself is big enough achievement of this scheme.You don't need any economics degree for that.
          Reply
          1. D
            dskygirl
            Nov 16, 2016 at 12:18 pm
            There's an indelible BIG FAT INDIAN WEDDING in Bangalore today...how about drowning the wedding party in black ink?
            Reply
            1. M
              master
              Nov 16, 2016 at 5:57 pm
              Heads of babus who gave the go ahead without adequate planning should roll. Bank employees are doing thier best only RBI controls printing of notes.
              Reply
              1. M
                Mayur Panghaal
                Nov 16, 2016 at 3:24 pm
                Today I exchange 4500 ...you mark me with ink Tomorrow I will exchange again...what will you mark me with ? And how will you know day after tomorrow whether that mark is of yesterday or day before ?? ha h ah ah ah Chaiwala at his best !! What a day !! charlie chaplin running the show !!
                Reply
                1. M
                  Mahender Goriganti
                  Nov 16, 2016 at 9:32 pm
                  Did anybody notice how IE Photo-shopped and posted same with two headlines of hear attack deaths?? The Medical facts: At least more than 10000 die every day from heart attacks doing doing and for no reason all and even when they are under intensive care?? lt;br/gt;this how con artists sell false stores with sinister agendas, scare and fears.
                  Reply
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