Exchanging Old Notes Will Now Leave Indelible Ink On Your Finger
Government will track Jan Dhan accounts closely, says Shaktikanta Das
People exchanging old Rs 500 and Rs 1,000 notes will now have an indelible ink mark on their fingers.
The measure will prevent same people from making multiple trips to banks and reduce the long queues in branches, said Economic Affairs Secretary Shaktikanta Das.
However, the government refused to provide any clarity on whether there would be curbs on the number of times someone could exchange notes, or how many days a person with indelible ink mark would have to wait before returning for new notes.
Das also added that the authorities will be monitoring all Jan Dhan accounts for any suspicious activity, and appealed to account holders to not "be used by other people to deposit their money.”
Bank managers have also been asked to keep a “close eye” on any person making frequent visits to the branch, as the government fears that these people could be converting their black money into white.
Places of worship have been requested to deposit donations received in smaller denominations, which Das argued will aid banks in dispensing cash faster to the general public.
Quelling fears of a shortage in commodities like salt, the economic affairs secretary assured the public that the cabinet secretary is heading a group monitoring the supply of essential commodities. There is no shortage of any essential commodity in the country right now, Das asserted.