Demonetisation: Govt issues SOP for putting indelible ink on customers’ fingers in banks

The RBI and the finance ministry in a circular today has told banks the procedure for putting indelible ink on the fingers of customers exchanging defunct currency in bank branches.

By: Express Web Desk | New Delhi | Updated: November 16, 2016 3:28 pm
indelible ink, banks, currency exchange, Shaktikant Das, black money, reserve bank of india, RBI, demonetisation, cash withdrawals, multiple withdrawals, multiple cash exchange, india news 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.

In a circular to public sector, private sector and foreign banks about the standard procedure for putting indelible ink on the fingers of customers, the Finance Ministry and the Reserve Bank of India on Wednesday put the following measures in place.

1. While exchanging the SBNs, the concerned bank branch 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 only once.

2. The indelible ink would be supplied to the bank/post offices by IBA in coordination with the banks and consultation with RBI.

3. This procedure would be introduced to begin with in the metro cities and expanded to other areas later.

4. Each bank branch will be provided with black indelible ink bottles of 5 ml each. The cap of the bottle includes a small brush for applying the ink.

5. The 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.

6. Indelible ink on the index finger of the left hand or any other finger of the left hand may not be used as a pretext to deny exchange of old notes.

In a major crackdown against those trying to turn black money into white, Economic Affairs Secretary Shaktikant Das on 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.