Cash crisis continues, inked finger ends serial exchange hopes
There are lengthy queues at banks and ATMs in the city on Wednesday as people waited in hope that cash dispensers would be refilled - eight days after the government announced that 500 and 1,000 rupee bills would cease to be legal tender.jaipur Updated: Nov 16, 2016 22:28 IST
There are lengthy queues at banks and ATMs in the city on Wednesday as people waited in hope that cash dispensers would be refilled - eight days after the government announced that 500 and 1,000 rupee bills would cease to be legal tender.
People in the city, however, lauded the government’s move to put indelible ink on finger of those exchanging scrapped banknotes to deter repeat transactions.
People can change a limited number of old notes for new ones at banks and post offices, but some people were exchanging currency beyond the limit at multiple banks. The inking idea is the same as the one used to prevent repeat voting.
Meanwhile, reports suggest that many banks in the city went dry by noon.
Senior citizen KL Sharma, standing at a queue outside a Bank of Baroda branch on Tonk Road, said, “The government has taken a good decision of putting ink on finger of a person exchanging old notes. This step would check repeat transactions in coming days.”
Sagarika Singh, a 21-year-old college student, said, “Today, I changed my old banknotes and got the finger inked. I think putting ink on finger will stop people coming again and again to banks to change old notes.”
A labourer, who refused to be identified, said: “Till now, I have changed `4,000 seven times from different banks. Today will be my last as I will have ink mark on my finger.”
Suresh Kumar, a 28-year-old employee with a private company, said, “There are single queue outside many banks. There should be three separate counters for exchanging old currency, withdrawal and depositing money.”
Prime Minister Narendra Modi, in a surprise move on November 8, announced withdrawal of high-value banknotes in a crackdown on corruption, undeclared wealth and tax evasion.
Indians rely heavily on cash for their daily transactions and those living in rural areas or who do not have bank accounts have been particularly hard hit by the move.