Use of indelible ink corrective measures: Arjun Ram Meghwal

Decision to use indelible ink mark on hands of people depositing and exchanging scrapped currency is a corrective measure to prevent unscrupulous elements from taking advantage of the demonetisation drive, Minister of State for Finance Arjun Ram Meghwal said today.

He said such measures would be taken on continuous basis to deal with the problem of cash crunch.

"This is corrective measure (use of indelible ink mark). Some people were coming again and again," he said.

"Corrective measure would be taken on continuous basis so that public gets cash in a smooth manner," he added.

He also appealed to the public that there is no need to panic as there is sufficient cash available in the system.

"We are reviewing situation continuously to provide relief and convenience to the public," Meghwal said.

Earlier in the day, Economic Affairs Secretary Shaktikanta Das said the government has decided to introduce use of indelible ink mark for customers exchanging defunct currency notes.

"It has come to notice of the government that in many places the same people are coming back again and again and we have also received reports that certain unscrupulous elements who are trying to convert black money into white have organised groups of innocent people and are sending them from one branch to another branch to exchange notes and get Rs 4,500," Das said.

The move will prevent certain syndicates and certain kind of people coming to branch again and again, he said.

Meanwhile, when asked about problems faced by farmers, Agriculture Minister Radha Mohan Singh said: "The process for exchanging notes and depositing cash is happening smoothly in villages. People can exchange their old notes." He added: "Those who are not farmers and having black money are in difficulty. These people are taking farmers name for their own sake and safety. Farmers are depositing and withdrawing cash. Agriculture income is tax free." There will be some inconvenience for one month but this move is beneficial for the country, the minister said.

Union Chemicals and Fertilisers Minister Ananth Kumar said the government is committed that there should not be any difficulty to common man.

The steps taken by the government in last two days like starting of ATMs as well as facilities to exchange and withdraw cash from banks and post offices will improve the situation, he said on the sidelines of a function here.

"We have taken steps for enabling farmers to withdraw cash for purchase of seeds, fertilisers and sowing operations. We will ensure that there is enough availability of cash in villages," Kumar said.

He said the opposition parties should support the government's decision to demonetise Rs 500-1000 note to fight against black money, corruption, fake currency and terrorism.

The government would take this fight to logical conclusion, Kumar said.