Blaming long queues outside banks and ATMs on people coming repeatedly to exchange their demonetised currency notes, Secretary Economic Affairs Shaktikanta Das on Tuesday said the banks will now be using permanent ink to ensure that people don’t repeat the exchange process again.
The official said the move would prevent “unscrupulous persons” from sending large numbers of people from branch to branch to change old 500 and 1,000 rupee notes to get around the crackdown. The ink is normally used only during the election process.
“You find the same people coming back again and again,” Economic Affairs Secretary Shaktikanta Das told a news briefing on Tuesday.
The directions are being implemented from today in major cities of the country.
Lot of stories in social media; reports of certain institutions going on strike; there is no such thing; please don’t believe it: S Das pic.twitter.com/IMVUK1i6Ef— ANI (@ANI_news) November 15, 2016
Das also said Prime Minister Narendra Modi has reviewed supply of currency for the second time in two days last night.
The official said that religious places receiving donations in smaller denominations are being urged to immediately deposit the same in banks to increase currency supply.
The senior bureaucrat said cash availability with post offices and district cooperative banks has been enhanced.
Asking citizens to not believe social media rumours about certain institutions going on strike, Das said there’s enough supply of cash in banks and there’s no need to panic.
Under the so-called demonetisation scheme, people are allowed to exchange up to 4,500 rupees once only.
(With inputs from Reuters)