Unscrupulous
elements are trying to convert their black money into white by going to
different banks branches several times over in a day
New Delhi, November 15
The government will use indelible
ink like during elections to prevent people from making more than the
permissible number of times cash withdrawal from bank counters, it was
announced on Tuesday.
Economic Affairs Secretary
Shaktikanta Das told the media that Prime Minister Narendra Modi held a second
review meeting on demonetisation with officials of the Finance Ministry and the
Reserve Bank of India (RBI) to ascertain why there continued to be such long
queues at banks.
“To prevent this, indelible ink
marks will be used, like in elections, at the cash counters,” he said, adding
that unscrupulous elements were trying to convert their black money into white
by going to different banks branches several times over in a day.
“Operating instructions will be
issued to banks on how to use indelible ink. From today, this process will
start in all major cities.”
At the
moment, the daily withdrawal limit from ATMs is Rs 2,500, and exchange of old
notes from bank counters is Rs 4,500. This apart, the upper limit for weekly
withdrawal from bank accounts stands at Rs 24,000. IANS
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