1. Demonetisation: Indelible ink removal soars on Google search; Check out 6 pts you must know

Demonetisation: Indelible ink removal soars on Google search; Check out 6 pts you must know

According to the RBI circular, based on feedback received from various quarters, there is a need to put in place a Standard Operating Procedure (SOP) for exchange of notes.

By: | Updated: November 22, 2016 1:06 PM
Demonetisation, Narendra Modi, BJP, Reserve Bank of India, RBI, Cash Chaos, Standard Operating Procedure, SOP, Indelible Ink, IBA, Note Ban According to the RBI circular, based on feedback received from various quarters, there is a need to put in place a Standard Operating Procedure (SOP) for exchange of notes. (Source: AP)

Even as demonetisation drive of the Narendra Modi government pinches the public even more as cash in valid denominations is not adequately available and to make things worse, some people have even started hoarding small denomination notes choking off supply in financial system. Mischief makers are also going ahead and devising various devious ways to by-pass the rules and regulations and cheat their way by grabbing cash from banks that they are not entitled to and thereby depriving others who have been standing in lines for hours. Others have managed to get their hands on cash on daily basis and they keep coming back for more. Some black money holders are sending their kin to banks to evade scrutiny. So, the government came up with a method to stop these multiple attempts to get cash by ordering banks to apply indelible ink on fingers of those who have withdrawn money and thereby identify them easily.

However, with chemicals, this ink can be removed. And more and more people want to know how and this is clear from the fact that among the top searches on Google is ‘indelible ink removal’. While you don’t want to go down that road, in this situation, find out the 6 steps that have been made mandatory by the government.

According to the RBI circular, based on feedback received from various quarters, there is a need to put in place a Standard Operating Procedure (SOP) for exchange of notes. The SOP for putting indelible ink on the finger of the customers coming to a bank branch – here are 6 must-know steps:

1. Indelible ink will be marked on the right index finger of every customer coming to the bank so that it becomes easy for the concerned banks to identify that the customer has exchanged old currency notes only once.

2. IBA along with the banks and consultation with the RBI will supply the indelible ink to banks and post offices.

3. The inking procedure has rolled out in metro cities of the country and will slowly expand into the rural areas too.

4. Banks will be provided with 5ml of black indelible ink along with a small brush for applying ink to the customers.

5. The ink will be applied to customers by cashiers or other bank officials deputed by the bank before the cash is given. This will allow the ink to dry up while exchange of notes and customers will not be able to wipe it off.

6. Customers cannot use the indelible ink applied on the index finger of the left hand as a pretext to deny exchange of old notes.

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