New Delhi: The government has asked banks to use indelible ink while exchanging banned Rs. 500 and 1,000 notes to stop “unscrupulous elements trying to convert black money”.
Economic Affairs Secretary Shaktikanta Das said Tuesday that people coming the banks to exchange old notes and cash withdrawals will be marked with indelible ink marks on cash counters similar to elections. The move has been announced as a measure to reduce large crowds at bank branches, that have led to hours-long waits for cash.
“We have received reports of people attempting to convert their black money to white by either going to the branch multiple times or to different branches. In some places, we have also received reports of individual going with groups to convert large quantities of cash,” he said.
“This is one of the reason there is such large amounts of crowding at bank branches,” he said.
