The Rs. 4,500 Mark: Indelible Inking Begins At 11 Banks, Here Is What Happens

[Kool_SRG]

 

NEW DELHI:  Eleven branches of the State Bank of India today began inking the fingers of people who exchange the now banned 500 and 1000 rupee notes for new ones, in a move designed to stop people from making multiple exchanges at different branches.

They are using indelible ink to mark the index finger on the right hand, not the left, as elections will be held soon in several states including Uttar Pradesh and Punjab and the Election Commission will  mark the middle finger on the left hand of voters to ensure they don't cast an illegal second vote.

Economic Affairs Secretary Shaktikanta Das said today that indelible ink bottles have been airlifted to all regions across the country.

The government announced the inking on Tuesday after revenue intelligence agencies reported that those with black or untaxed money were making innocent people stand in multiple queues each day to exchange their illegal money, Rs. 4500 at a time.

The Reserve Bank has issued a standard operating procedure or SOP for banks on the inking. It will be introduced, the central bank said, first in metros and then will be expanded to other places. The process will be slow as the indelible ink is produced only at government establishments and the quantity required is huge.

Each bank branch will be provided with black indelible ink in 5 ml bottles. The indelible ink will be applied before the replacement notes are given to the customer so that the ink can dry while the exchange of notes is taking place, preventing a person from quickly removing it before it has dried.

The process could create more confusion than clarity. The indelible ink mark takes at least 15 days to go away. Which means any person who exchanges 4,500 rupees on day one may face problems the very next day as it won't be clear if the mark was put on the same day or earlier.

Each person can exchange old notes worth 4,500 every day.

Prime Minister Narenda Modi had in an abrupt announcement last week abolished 500 and 1000 rupee notes in a mega move in his government's battle against black money and fake currency.

The cash crunch that the sudden move led to has seen people queuing up for hours at banks to exchange or draw money and opposition parties have flayed the government for what they have called "hasty and ill-preoared" implementation in a debate now on in Parliament.

The government has said the secrecy and suddenness was important to ensure people with stacks of black money were caught unawares and PM Modi has promised to bring the situation back to normal in 50 days.

[NinduChandurudu]

Next elections lo undi eediki ..tarimi tarimi kodtaru 

[timmy]

there are lot of ways to remove that ink. google chesthe dorukuthaayi 

 

[Kool_SRG]

1 minute ago, timmy said:

there are lot of ways to remove that ink. google chesthe dorukuthaayi 

 

+1 

[Kontekurradu]

7 minutes ago, NinduChandurudu said:

Next elections lo undi eediki ..tarimi tarimi kodtaru 

nuuv cheppavante, adi nijaem ayidii le 

[Prabhas_Fan]

7 minutes ago, Kontekurradu said:

nuuv cheppavante, adi nijaem ayidii le 

suruku

[NinduChandurudu]

5 minutes ago, Kontekurradu said:

nuuv cheppavante, adi nijaem ayidii le 

London lo rich man ki Indian kurrodi badhalu em ardham avuddi 

[Kontekurradu]

32 minutes ago, NinduChandurudu said:

London lo rich man ki Indian kurrodi badhalu em ardham avuddi 

oho atna 
i am not based in London rey FYI
i am far from london 

[Prabhas_Fan]

12 minutes ago, Kontekurradu said:

oho atna 
i am not based in London rey FYI
i am far from london 

far from ante ekkada bro

[Kool_SRG]

5 minutes ago, Prabhas_Fan said:

far from ante ekkada bro

Pakka sandulo anta 

[Prabhas_Fan]

7 minutes ago, Kool_SRG said:

Pakka sandulo anta 

[Bhai]

3 hours ago, Prabhas_Fan said:

far from ante ekkada bro

ante o 3470 miles... shortest flight distance

[Kontekurradu]

4 minutes ago, Bhai said:

ante o 3470 miles... shortest flight distance

last 2 numbers teseyyi, 

35 miles from LOndon 

[mettastar]

1 minute ago, Kontekurradu said:

last 2 numbers teseyyi, 

35 miles from LOndon 

London lo Kilometers use chestharu anukunnaa.. akkada kuda miles lo matladathara 

[Kontekurradu]

1 minute ago, mettastar said:

London lo Kilometers use chestharu anukunnaa.. akkada kuda miles lo matladathara 

ya, Miles lo matladaru kaani, miles lo distance kolustharu