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 The notes withdrawn accounted for 86 per cent of the cash circulating in the Asia's third-largest economy.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...

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News Network
February 21,2020

Bengaluru, Feb 21: Amulya Leona, a college student, who raised to pro-Pakistan slogans to embarrass organisers of a protest against the Citizenship (Amendment) Act (CAA) here on Thursday evening, has been charged with sedition.

The student-activist, who was allowed to talk on stage, suddenly raised pro-Pakistan slogans. She was arrested by police after All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi snatched her mike.

Deputy Commissioner of Police Ramesh Bannoth confirmed the girl has been charged with sedition, provoking enmity between groups, and intentional insult to provoke breach of peace.

It was just after Mr. Owaisi’s arrival on the stage at Freedom Park here that the 19-year-old student was asked to speak. After preliminary remarks, she suddenly shouted “Pakistan zindabad” thrice, leaving the crowd and organisers stunned.

Some of the organisers rushed to her and tried to take the mike away and stop her from speaking further. Mr. Owaisi too joined in and snatched the mike. Holding on to the mike, the girl then went on to shout “Hindustan zindabad” twice, before a posse of police personnel and organisers whisked her away from the stage

Soon after the student was taken away, a visibly upset Mr. Owaisi told the crowd: “Whatever has been spoken [by the girl] is wrong. Neither my party nor I has any connection with it. As long as we are alive, we will be raising Bharat zindabad slogans. Never had we any relationship with Pakistan nor will we have anything in future,” he announced.

He further stated: “This is condemnable. The organisers should not have invited such people to this place. If I had known that these kind of things would be said here, I would not have come here.”

It is unfortunate that the organisers have invited such people and a wrong message is going out, he said. “Now, BJP has got an opportunity and will blame me,” he added.

Every speaker, who took the podium after the incident, condemned the pro-Pakistan slogans raised by Amulya.

Janata Dal (S) councillor representing Gurappanapalya, Imran Pasha, one of the organisers of the protest under “Hindu, Muslim, Sikh, Isayi Federation”, claimed that they had not invited the “activist” and were not aware that she would be speaking from the stage. Mr. Pasha said that such statements were “a deliberate attempt to drive a wedge between Hindus and Muslims”.

Meanwhile, the BJP State unit tweeted, “Truth is that protests against CAA are a joint venture between Pakistan and anti-National forces led by INC India.” In a press release, BJP State unit president Nalin Kumar Kateel termed this as an “anti-national act” and urged the police to take action.

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News Network
January 6,2020

Bengaluru, Jan 6: Chief minister BS Yediyurappa has plenty on his plate ahead of the 2020-21 state budget to be presented on March 5 what with the economic slowdown and a sizeable shortfall in revenue, but the biggest worry is the uncertainty surrounding Goods and Services Tax (GST) compensation from the Centre.

There is also uncertainty over the state’s share under devolution of funds as per the 14th Finance Commission recommendation.

Finance department officials say that while Rs 3,500 crore is expected as GST compensation for every two months, the devolution of funds would have yielded about Rs 7,000 crore for the current fiscal. But the economic slowdown appears to have hit the Centre’s finances and is likely to impact the state’s share of funds.

“The GST payment for August-September came only in December and we are unsure how much we will get for October-November and December-January,” an official said. Estimates suggest the state’s share under devolution of funds could be reduced by half.

At a meeting of finance department officials last week, Yediyurappa is said to have admitted that unlike those states where non-BJP parties are in power — they have threatened agitations and court cases — the government cannot go “against” Prime Minister Narendra Modi’s regime.

Instead, Yediyurappa has urged senior IAS finance department officials to lobby for funds with their counterparts in New Delhi. On his part, Yediyurappa is said to have already written to Modi and finance minister Nirmala Sitharaman to at least release the state’s share of GST compensation for the current calendar year of 2019. He is planning to personally meet the PM in Delhi to push the state’s case.

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News Network
February 2,2020

Hassan, Feb 2: Former prime minister and JD(S) supremo H D Deve Gowda has said that the controversy over the Citizenship (Amendment) Act should be resolved peacefully through discussion.

Speaking to reporters in Halebeed on Saturday, Gowda said that the Act affects only Muslims but would also prove troublesome for the Hindus. “Opening fire on anti-CAA protesters is the not solution to the issue,” he said.

Deve Gowda said that during his tenure as prime minister a number of problems concerning Muslims were addressed. “But, in the run up to election, Rahul Gandhi described us ‘B’ team of BJP. This led to vote swing,” he added. When his comment was sought on the budget, the former prime minister said that he had not yet read the budget document.

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