New turns and U-turns are being witnessed in the Currency replacement exercise.
Today the Government announced that a dye will be applied on your finger when you get your money exchanged for the new currency. The Government says this is necessary as this will stop people from visiting banks for multiple withdrawals of their money. This trend or multiple visits to replace and withdraw new currency is causing nuisance to the banks. Who are these elements the Government is talking about?
The Government underlines that this is necessary to curb black money … How?
The Government knows better.
According to reports and we quote,
Economic affairs secretary Shaktikanta Das said banks will mark with indelible ink the fingers of people exchanging old currency at counters to stop them from coming back repeatedly and choking queues.
The government has blamed the long lines outside banks on unscrupulous elements using ordinary citizens to exchange illegal cash by multiple transactions.
Das also said Jan Dhan accounts with deposits above Rs 50,000 will be closely monitored following reports that many were using the accounts – opened by mostly the poor people – to park illegal incomes.
But every time the Government starts such measure it underlines that it has every means (sophisticated) to know those who’re visiting banks multiple times and encouraging black money.
So what is this dye or indelible ink on your finger for (Like the one they place when a child gets Polio vaccination, or on a more advanced level, when you cast your vote in an Election)?
May be the dye on your finger is to remind you that you’ve already visited the bank once. This will also be for information purposes. That’s you will have to show your finger whenever you visit the Bank twice.
… That said, the Government is telling people time and again that they should help the Government at this time of need.
The question is not about helping the Government. The people are already helping the Government.
But how will putting a dye on your our fingers will help curb Black Money? …
OR … How will visiting banks for withdrawing or exchanging our own money makes us nuisance creators. That too when the maximum you can withdraw per week is Rs 4500/-.
This is simple arrogance on the part of the part of the Central Government, as how much money a person will withdraw or deposit in his bank account when the Government has already capped the withdrawal and deposit limits!
There’s another question as well. If for a moment we assume that the real black money holders are using poor to pool their black money in poor people’s Jan Dhan accounts, then the Government must be happy with such thing happening. As that way, the Government can easily monitor the bank accounts later on!
But telling the Nation that those who are standing on ATM and Bank queues are making multiple withdrawals, and that too for reasons other than real necessity, is nothing but blaming the wrong people.
Why will anyone stand all day in such queues, to withdraw or exchange money, which he doesn’t require it?