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Banks use indelible ink to halt repeat withdrawals

  • Ink, currency notes, denomination, IRB, Note
    A woman shows her inked finger after exchanging 500 and 1000 rupee currency notes at a SBI bank

    The government has asked commercial banks to apply an indelible ink mark on the fingers of people coming to exchange their demonetized currency notes, in order to restrict the same set of people queuing up to exchange money multiple times.

  • Ink, currency notes, denomination, IRB, Note
    A bank employee applying ink to a customer on exchange of 500 and 1000 rupee currency notes at a SBI branch in New Delhi

    Long queues at banks and automated teller machines (ATMs) continued to build up as people lined up to withdraw cash a week after the government announced cancellation of the existing Rs500 and Rs1000 notes as legal tender.

  • Ink, currency notes, denomination, IRB, Note
    A man inked on exchange of 500 and 1000 rupee currency notes at a SBI branch in New Delhi

    Economic affairs secretary Shaktikanta Das said unscrupulous elements are using some people to turn their black money into white money.

  • Ink, currency notes, denomination, IRB, Note
    Women shows thier inked finger after exchanging 500 and 1000 rupee currency notes at a SBI bank in New Delhi

    As a result, the currency exchange facility is getting restricted to a few people only while the needy are not able to use it.

  • Ink, currency notes, denomination, IRB, Note
    A man shows his inked finger and exchanged currency notes at a SBI branch in New Delhi

    They will not be applicable for cash deposits and withdrawals from bank accounts.

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