Banks to use indelible ink marks on those exchange old notes: Economnic affairs secy

He also informed the media that the government has received the information that many people are trying to convert black money into white after organising groups of people and sending them to exchange

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New Delhi, Nov 15 Economic Affairs Secretary Shaktikanta Das briefed the media on Tuesday and informed that the government has been trying to anaylse reasons for the long queues outside the banks. It has come to the notice of the government the long queues are because the same people are coming again at same places.

Shaktikanta Das

He added that the government has noticed that long queues at banks and ATMs is that the same people also keep coming again and again at different places.

He also informed the media that the government has received the information that many people are trying to convert black money into white after organising groups of people and sending them to exchange money.

He also informed the media that to solve this problem the government has decided to use indelible ink marks, similar to elections, on cash counters. Indelible ink mark concept is to start from today in major cities.

"To ease pressure on banks, a task force has been set up to look after shifting and storing of old notes," said Economic Affairs Secretary Shaktikanta Das.

Special Task Force has also been set up to monitor infusion of fake currency especially in the vulnerable areas, he informed the media.

Economic Affairs Secretary Shaktikanta Das on rumours of salt shortage:

"We have enough stock of salt, unscrupulous elements had spread rumours."

"Have enough stock of salts; no reason for temporary surge in price or shortage; supply of essential commodities being closely monitored."

Economic Affairs Secretary on Demonetisation:

"Situation is improving day by day; sure that it will ease out in the coming days."

"If you give us specific instances of which govt hospitals and pharmacies are not accepting old currency, action will be initiated."

On rumours being spread about institutions going on strike:

"False stories are being spread on social media such as institutions going on strike. On zooming the picture we found it was from 2015."

"Lot of stories in social media; reports of certain institutions going on strike; there is no such thing; please don't believe it."

"No reason to panic, enough supply of cash in the banks."

Shaktikanta Das on how to find if currency note is fake:

"Intaglio ink used in notes that is the reason for colour, it is normal you can check on old Rs. 100 notes if it doesn't it is sign of fake currency."

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