Currency Crunch: Govt Acts to Ease Public’s Woes

Government takes more steps to handle crowd rushing to banks and ATMs.

Economic affairs secretary Shaktikanta Das (3rd from left). (Photo: PTI)

Grappling with unending queues and frayed tempers in banks and to check operation of syndicates, the government on Tuesday decided to introduce a system of marking customers exchanging defunct currency notes with indelible ink while monitoring suspicious deposits in Jan Dhan accounts.

"It has come to notice of the government that in many places the same people are coming back again and again and we have also received reports that certain unscrupulous elements who are trying to convert black money into white have organised groups of innocent people and are sending them from one branch to another branch to exchange notes and get Rs 4500," Economic Affairs Secretary Shaktikanta Das told reporters.

"As a result what is happening is that the benefit of withdrawal of cash is getting restricted to smaller number of people...to prevent such kind of misuse, the branches of banks to take recourse to use of indelible ink marks for disbursement of cash," he said.

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Video Editor: Mohd Ibrahim