As we all are aware of the fact that there are long lines outside banks and ATMs in order to exchange old notes. However, the crowd is uncontrollable at some places, because people are repeatedly standing in queues in order to get more notes exchanged.
Yet again, the Modi government has found an option to this. Now, the banks will put an indelible ink mark on the fingers of people, after they have exchanged their notes. Yes, this is basically for preventing repeated conversions!
This move has been announced mainly for controlling the large crowds outside bank branches. It is taking almost 4 to 5 hours for people to get their cash exchanged. This move was announced today morning by Shaktikanta Das, the Secretary of Economic Affairs. He further said explained that the government took this decision, because there were many people who tried converting black money to white money smartly, by making multiple visits to the banks. He said –
The reason for long queues at banks and ATMs is that the same people keep coming again and again at different places. We have received reports that many people are trying to convert black money into white and they have organised groups of people and are sending them to exchange money.
Further, Das added “To solve this problem, we have decided to use indelible ink marks, similar to elections, at cash counters. This will start today in major cities,” Moreover, he also requested people to not believe any rumors on social media. Let us see if this decision helps to stable the crowd at the bank. Do let us know your views in the comment section below!