Demonetisation: Banks to use indelible ink while exchanging notes

November 15, 2016

New Delhi, Nov 15: A small mark of indelible ink, used mostly during elections to prevent multiple voting, will be put on the right hand finger of those exchanging banned 500 and 1,000 rupee notes for new ones from tomorrow to prevent crowding at banks by repeat exchangers.Untitled-1

As per the assessment of Finance Ministry, bank counters are getting overcrowded due to same people turning up again and again to exchange old notes. "Ideally, the ink mark should have been put on the left hand as is done when a person casts his vote. But with by-elections due in some states, an ink mark for exchange or withdrawal of currency note on the left hand will lead to unnecessary difficulties. So it has been decided that the ink mark would be put on right hand," an official said.

The ink manufactured at the Mysore Paints and Varnish Ltd - the firm that has supplied indelible ink to the Election Commission since 1962 to mark voters, will be made available to banks and post offices from tonight.

Banks in major cities will start marking note exchangers with the ink, the official said.
Also, an expert committee comprising of officers from the Department of Economic Affairs and the Department of Financial Services are preparing standard operating procedure (SoPs) for ink marking as well as additional steps to be taken to manage the crowds.

The move comes amid long, unending queue at banks even after a week of Prime Minister Narendra Modi announcing withdrawal of old Rs 500/1000 notes in 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 The notes withdrawn accounted for 86 per cent of the cash circulating in the Asia's third-largest economy.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 source said the use of indelible ink would prevent "unscrupulous persons" from use conduits for exchanging notes. A persons, as per the revised guideline, is allowed to exchange old notes totalling up to 4,500 on a single day.

Earlier in the day, Economic Affairs Secretary Shaktikanta Das said it was noticed that the same people were coming back again and again to exchange notes, causing the long queues and creating hassles for genuine people to get their cash.

By-elections for four Lok Sabha seats - Cooch Behar and Tamluk in Purba Medinipur district in West Bengal, Shahdol in Madhya Pradesh and Lakhimpur in Assam will be held on November 19.

As many as 8 Assembly seats in Assam, Arunachal Pradesh, Madhya Pradesh, West Bengal, Tamil Nadu, Tripura and Puducherry will go to polls on the same day.

Comments

MARK
 - 
Tuesday, 15 Nov 2016

Dictatorship.... is in india... and that too its Worst ... Keeping the PUBLIC in trouble.

Instead of riding Ambani and adani .. cheddis are deceiving the people of india..

STILL bakhts did not understand this deception...

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
July 16,2020

Mangaluru, Jul 16: Streets in Mangaluru wore a deserted look as the city woke up to the first morning of the seven-day lockdown on Thursday.

The lockdown is being observed after the state government announced it as a necessary step to combat the spread of COVID-19.

The week-long total shutdown came into effect in the Karnataka's Dakshina Kannada district from 8 pm on July 15 till 5 am on July 22.

The state government allowed relaxation between 8am to 11 am for purchasing of essential commodities. A slight rush was observed during the hours of the relaxation.

Karnataka has so far reported 47,253 positive COVID-19 cases, including 27,859 active cases and 18,466 recoveries.

So far, 928 people have lost their lives due to the infectious virus in the state.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 2,2020

Bengaluru, Jan 2: Prime Minister Narendra Modi on Thursday slammed states, which have not enrolled with the Pradhan Mantri Kisan Samman Yojana (PMKSY), saying that such petty politics has done great damage to the farming community.

"I expect that in the new year, those states which are not associated with the Kisan Samman Yojana will at least become a part of it this year," the Prime Minister said at a function in Tumakuru where he disbursed Rs 12,000 crore to six crore beneficiaries under the government scheme in one-go.

Also, he gave away the Krishi Karman Award to the selected farmers and distributed fishing equipment to the chosen ones on the occasion. Modi said political considerations by the state governments in implementing the PMKSY has caused severe loss to the poor farmers.

"Such politics has never strengthened the farmers. Our government understood your (farmers') needs, requirements and your aspirations and accordingly tried to implement the schemes," said Modi.

He further said his government never saw agriculture in fragments but in its totality. Claiming his government has ensured that the entire money reached the poor beneficiaries, Prime Minister hit out at the previous governments, when middlemen ruled the roost.

"There was a time when a rupee was rolled out (by the government) for the poor person, only 15 paise would reach him. The middlemen would pocket the remaining 85 paise. "Today, whatever money is dispatched from Delhi, the entire amount directly reaches the bank account of the beneficiary," he said.

He told the gathering about the various initiatives taken by his government to improve the agriculture sector such as completing the pending irrigation schemes, soil health card and 100 per cent neem-coating in urea.

Due to the initiatives of the government, agriculture production has gone up, he said. Speaking about measures in the fisheries sector, the Prime Minister said the sector has been promoted in the villages, financial help given to fishermen, modernisation of boats and building fisheries-related infrastructure have been done.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
coastaldigest.com news network
May 17,2020

Bengaluru, May 17: Amidst mounting demand form Kannadigas across the world for repatriation flights in the wake of covid-19 lockdown, Dr Arathi Krishna, former Deputy Chairman of the NRI Forum of Karnataka government, has written to Hardeep Singh Puri Minister of Civil Aviation to operate more special flights to Gulf repatriate Kannadigas from gulf countries. 

Dr Arathi Krishna’s first request in the letter was to add flights from Kuwait, Bahrain and Jeddah to Bengaluru as many (from Karnataka) are stranded in these cities in precarious situations.

In addition, she also requested for a couple of flights from Dammam and Riyadh to Bengaluru as there are more than 3780 Kannadigas registered to return from Saudi Arabia and members of Bearys Chamber of Commerce and Industry are requesting the same. Any number of flights from Dubai to Bengaluru and Mangaluru will also help the stranded people, the letter stated. 

“Old and sick people, pregnant women and others are in urgent need to connect with the world are looking up to you for getting flights from different comers of the world. Indian communities are hopeful that you will use your position to help them to get the much needed mobility at this time,” the letter stated. 

She also said that the people in Karnataka are grateful to you (Mr Hardeep Singh Puri) for adding two flights from Dubai to Bengaluru in the last two schedules and one flight each from Riyadh, Dammam, Muscat and Doha.

Dr Arathi Krishna is currently serving as the Chairman of the NRI Cell of Karnataka Pradesh Congress Committee and Secretary of Indian Overseas Congress.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.