Banks to use indelible ink to reduce crowds depositing old notes

With no Aadhar support to control crowds thronging at bank branches and deposit machines to offload their cash bundles, banks have now turned to the good old indelible ink to track depositors revisiting bank counters. The government also announced certain measures to combat the crisis of cash crunch.

Economic affairs secretary Shaktikanta Das made a couple of announcements to combat the cash crunch at a press meet on Tuesday, even as the opposition parties, including the Congress, Left, TMC, NCP and the JD(U), met to formulate strategies to take on the government in the coming winter session of Parliament on the issue of demonetisation,

Das said indelible ink would be used at banks to identify people who exchange notes.

There is, however, no guarantee that the indelible ink would not be erased, considering the fact that bank staff was caught unauthorisedly swapping bundles of new currency against old notes, at least in one instance.

Also, there is no dearth of people willing to queue at bank counters for a fee, of course.

Das also announced the formation of a special task force to monitor the infusion of fake currency into the market, especially in the vulnerable areas of the country. But, he said, everything is being done to improve currency supply.

Das also urged places of worship that receive smaller denomination notes, to deposit them in banks immediately so improve supply of these notes, even as he warned people not to fall prey to rumours being spread through social media.

'''We have enough stock of salts and there is no reason for a temporary surge in price or shortage. Supply of essential commodities is being closely monitored. There are a lot of stories spreading through social media, like reports of certain institutions going on strike. There is no such thing, please don't believe such reports.''

Meanwhile Nepal Premier Prachanda called up Prime Minister Narendra Modi and sought arrangement so that Nepalese holding a huge stock of banned high denomination Indian bank notes could swap them with legal currency in the country.

Hundreds of thousands of Nepalese, mostly wage earners, rely on India for jobs, medical treatment and for purchase daily essentials. They continue to hold scrapped Indian bank notes, Kathmandu Post reported.