The government moved on Tuesday to unclog massive queues outside ATMs and banks following a surprise recall of high-value currency a week ago, announcing several measures to rein in the chaos . Here are five things the government wants you to know:
1. Banks will mark your finger with indelible ink – the kind used during polls – to stop you from coming back to exchange cash multiple times. The process will begin from Tuesday at major cities. Government says multiple withdrawals in cash are the reason behind long queues at banks.
2. It is normal for any banknote to bleed colour. When you rub even an old Rs 100 note with a piece of cotton, it will leave some colour. If a note doesn’t bleed colour, it means the note may be fake.
3. All Jan Dhan accounts with cash deposits more than Rs 50,000 will be closely monitored because these accounts are being used by money launderers to park illegal cash.
4. All temple trusts have been asked to deposit donations in banks to increase the circulation of small currency, desperately needed after scrapping of high-value banknotes
5. All reports of strikes floating on social media are false. Government has enough cash and reserves in salt, so people shouldn’t panic.
For full coverage on black money crackdown, click here