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Demonetisation: Banks to use indelible ink while exchanging notes

[email protected] (Agencies)
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 The notes withdrawn accounted for 86 per cent of the cash circulating in the Asia's third-largest economy.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
August 9,2020

Bengaluru, Aug 9: Karnataka Chief Minister BS Yediyurappa has expressed condolences over the death of nodal officer who died while being on COVID-19 duty and announced an ex-gratia of Rs 25 lakhs to the family of the deceased.

The deceased has been identified as H Gangadharaiah. As per reports, he died due to a heart attack while on COVID-19 duty.

A government job and Rs 25 lakhs will be provided to the officer's family, according to Karnataka Chief Minister's Office (CMO).

"Chief Minister BS Yediyurappa expressed his heartfelt condolences over the death of H Gangadharaiah, KAS, who was on COVID-19 duty as nodal officer at the Bangalore International Exhibition Centre (BIEC)," Karnataka CMO tweeted.

"CM announced Rs 25 lakhs ex-gratia from Chief Minister's Relief Fund, a government job for a family member and instructed the last rites of Gangadharaiah to be performed with full state honours," the CMO added.

In the last 24 hours, 7,178 new COVID-19 cases (including 2665 in Bengaluru Urban), 93 deaths and 5,006 discharged cases were reported in Karnataka.

The total number of cases rises to 1,72,102 in the state, including 79,765 active cases, 89,238 discharges and 3,091 deaths, as per the State's Health Department.

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coastaldigest.com news network
July 27,2020

Bengaluru, Jul 27: Karnataka Chief Minister B.S. Yediyurappa, on completion of one year of his government, today said coronavirus hampered his development plans for the state.

He said the state will not see a lockdown again "at any cost".

"Due to coronavirus we couldn't meet people's expectations but now we'll not have lockdown in Karnataka at any cost. In future we're going to fulfill whatever I announced in Budget. If necessary we'll take loans and complete all development work," said Yediyurappa.

"Covid has hampered development plans of Karnataka, lot more needs to be done, i'm committed to providing an able, stable government," he said.

Arrangements were made for virtual celebrations to mark the one-year anniversary of Yediyurappa government at Banquet Hall in Vidhana Soudha in Bengaluru. Social distancing was maintained at the event.

A record 5,199 new COVID-19 cases and 82 deaths were reported from Karnataka on Sunday, the state's health department said.

With this, the total number of coronavirus cases in the state stands at 96,141, including 58,417 active cases and 35,838 recoveries.

So far, 1,878 deaths have been reported from Karnataka. Karnataka is the only state to have over 50,000 active cases with overall tally below 1 lakh.

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News Network
May 9,2020

New Delhi, May 9: The Finance Ministry on Friday announced relief to those who have been facing difficulty with their residency status in India under section 6 of the Income-tax Act due to lockdown and suspension of international flights owing to COIVD-19 outbreak, as they have had to prolong their stay in India.

According to a Central Board of Direct Taxes (CBDT) release, Finance Minister Nirmala Sitharaman today allowed discounting of prolonged stay period in India for the purpose of determining residency status after considering various representations received from people who had to prolong their stay in India due to lockdown and suspension of international flights.

They expressed concern that they will be required to file tax returns as Indian residents and not as NRIs after 120 days of stay.

The Finance Ministry stated that the lockdown continues during the financial year 2020-21 and it is not yet clear when international flight operations would resume, a circular excluding the period of stay of these individuals up to the date of resumption of international flight operations shall be issued for determination of the residential status for the financial year 2020-21.

A circular also said that in order to avoid genuine hardship in such cases, the CBDT has decided that for the purposes of determining the residential status under section 6 of the Act during the previous year 2019-20 in respect of an individual who has come to India on a visit before March 22, 2020 and:

(a) has been unable to leave India on or before March 31, 2020, his period of stay in India from March 22, 2020 to March 31, 2020 shall not be taken into account; or

(b) has been quarantined in India on account of novel coronavirus (Covid-19) on or after March 1, 2020 and has departed on an evacuation flight on or before March 31, 2020 or has been unable to leave India on or before March 31, 2020, his period of stay from the beginning of his quarantine to his date of departure or March 31, 2020, as the case may be, shall not be taken into account; or

(c) has departed on an evacuation flight on or before March 31, 2020, his period of stay in India from March 22, 2020 to his date of departure shall not be taken into account."

The release said there are number of individuals who had come on a visit to India during the previous year 2019-20 for a particular duration and intended to leave India before the end of the previous year for maintaining their status as non-resident or not ordinary resident in India.

"However, due to declaration of the lockdown and suspension of international flights owing to outbreak of COVID-19, they are required to prolong their stay in India. The status of an individual whether he is resident in India or a non-resident or not ordinarily resident, is dependent, inter-alia, on the period for which the person is in India during a year," it said.

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