New Delhi: To stop repeat money exchangers thronging banks with invalid currency notes, banks have started applying indelible ink mark on the right hand index finger of customers in the select metro cities.
The State Bank of India and few other banks in Delhi have started using indelible ink. As per the government statement, 11 branches of SBI are using the method to weed out customers queuing up again and again to exchange invalid currency notes.
As per the Standard Operating Procedure (SOP) for exchanging notes, concerned bank branches and post offices would put indelible ink mark on the right index finger of the customer so as to identify that he/she has exchanged the old currency notes once.
The notes withdrawn accounted for 86 per cent of the cash circulating in the Asia's third-largest economy.
This procedure is being introduced to begin with in the metro cities and expanded to other areas later, the RBI said in a statement.
According to SOP released by the RBI, 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 State Bank of India and few other banks in Delhi have started using indelible ink. As per the government statement, 11 branches of SBI are using the method to weed out customers queuing up again and again to exchange invalid currency notes.
As per the Standard Operating Procedure (SOP) for exchanging notes, concerned bank branches and post offices would put indelible ink mark on the right index finger of the customer so as to identify that he/she has exchanged the old currency notes once.
The notes withdrawn accounted for 86 per cent of the cash circulating in the Asia's third-largest economy.
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This procedure is being introduced to begin with in the metro cities and expanded to other areas later, the RBI said in a statement.
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According to SOP released by the RBI, 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.
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