Banks To Use Inedible Ink On Finger Of Customers

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The Government of India on Tuesday notified that customers will be inked on finger when they exchange their old currency at banks. 

This move came after it was noted that the same persons were visiting bank branches, and ATMs repeatedly to exchange money. It was also noted that rich individuals are using the services of poor and innocent people to convert their black money into white.

Banks To Use Inedible Ink On Finger Of Customers

In order to prevent such misuse of the facility and enable larger number of persons to draw cash, indelible ink used during elections shall be used for over the counter exchange against old Rs 500/- and Rs 1000/- notes, a PIB release said.

While exchanging the old currency, the concerned bank branch will put inedible ink mark on the right index finger of the customer so as to identify that the has exchanged the old currency notes only once.

Initially, this procedure would be introduced in the metro cities and expanded to other areas later.

"The indelible ink can be applied by the cashier or any other official designated by the bank before the notes are given to the customer so that while the exchange of notes is taking place, a few seconds elapse which will allow the ink to dry up and prevent removal of ink", the RBI said.

Indelible ink on the index finger of the left hand or any other finger of the left hand may not be used as a pretext to deny exchange of old notes.

Read more about: banking, rbi, banks
Story first published: Wednesday, November 16, 2016, 11:19 [IST]
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