 "Banks to mark customers with indelible ink to ensure cash is changed only once a day")
Banks would start using indelible ink to mark customers to stop multiple currency exchanges in a day, Economic Affairs Secretary Shaktikanta Das announced as the government's demonetisation measure is set to enter its second week.
Das added that it was found that the reason for long queues outside banks and ATMs, a phenomena all too familiar across all parts of the country since last week, was that the same people were lining up again and again, thereby cutting out other people.
The announcement comes as the government announced measures to try and ease the pressure on common people. The government advised banks and the National Payment Corporation of India (NPCI) to waive charges on e-transactions till December 31. Following this, NPCI waived till year-end the switching fee for all RuPay issuing and acquiring member banks for point of sales and e-commerce transactions.
The limit for various categories of withdrawals has also been raised, with exemptions extended till November 24.
Banks would also deploy their micro ATMs (Bala Mitras, etc) near village panchayat offices, police stations, police and military outposts, government departments, offices of public sector units, petrol pumps and other similar secure locations.
With the public still scrambling to deposit their now defunct Rs 500 and Rs 1,000 notes or withdraw the new series of currency notes, the government had come under criticism from sections of the public and Opposition parties.
Das provided further clarity on what the government was doing to tackle the current situation.
1) Das announced that there was no reason to panic as there was enough quantity and stock of notes in the system. He added that Prime Minister Narendra Modi and Finance Minister Arun Jaitley had reveiwed the availability of cash in the country on Monday night.
More From This Section
2) Das also announced that the availability of cash with bank branches and post offices has been enhanced.
3) He also informed that the government was keeping a close watch on cash deposits into Jan Dhan bank accounts. He appealed to Jan Dhan account holders to not allow people other than themselves to misuse their accounts.
4) Further, Das said that banks were seeking currency notes of smaller denominations from temples.
5) He also said that task forces had been formed to look into the issue of storage and transfer of the old and defunct notes, and for tackling with infusion of fake currency notes.
6) Das informed that in the case of salt, there was no reason for any shortage or price surge as the stock exceeded the demand.