Tuesday, 15 November 2016

Indelible Ink Mark to avoid multiple transactions : Not applicable for withdrawal or deposit

Indelible Ink Mark to avoid multiple transactions : Not applicable for withdrawal or deposit

Indelible Ink Mark to avoid multiple transactions

The Central Government has announced that banks will mark with indelible ink the fingers of people exchanging old currency at bank counters to stop them from coming back repeatedly and avoid multiple transactions.

The drawing limits against Bank Accounts and from ATMs and over the cash disbursement have also been increased. It was noted that one of the primary reasons for long queues was that the same persons were visiting Bank branches, ATMs etc. repeatedly. It was also noted that certain unscrupulous elements are using the services of poor and innocent people to convert their black money into white. 

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. This is not applicable in the case of withdrawal from or deposit into accounts.
Cash disbursement points, especially Bank branches will be advised to put-up notices outside their branches advising people to avoid exchange of old notes over the counter multiple times. 

Parking Charges at Airports suspended till 21.11.16

The Ministry of Civil Aviation has decided to suspend the collection of parking charges at all airports till midnight of 21 November 2016. This has been done in order to facilitate the smooth movement of passengers.

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