Banks
Jan Dhan Account holders are requested not to allow their accounts to be misused by anyone :
Government Press Release
The Prime Minister Shri
Narendra Modi reviewed the position for the second consecutive day
yesterday regarding the smooth supply and availability of currency
notes; Among major decisions taken during the Meeting include to
continue to give highest importance to ensure convenience for the public
Use of Indelible ink for over the
counter exchange against old Rs.500/- and Rs.1000/- notes; Arrangements
to make available adequate cash to the Postal Department for their use
including the branch Post Offices.
The Prime Minister Shri Narendra Modi
reviewed the position with regard to supply and availability of currency
notes for the second consecutive day yesterday (14.11.2016) late
evening. The Meeting, which went on till about midnight, was attended
among others by the Union Minister for Finance and Corporate Affairs,
Shri Arun Jaitley, Minister of State (Independent Charge) for Coal &
Power, Shri Piyush Goyal, Principal Secretary to the Prime Minister
Shri Nripendra Misra and Additional Principal Secretary to the Prime
Minister, Dr. P.K.Mishra, Cabinet Secretary, Shri P.K.Sinha, Governor,
RBI, Dr. Urjit R Patel, Secretaries from the Finance Ministry and other
officials from PMO. A detailed review was made with regard to the steps
that have been taken for smooth distribution and dispensing of cash
through various channels of disbursement.
After detailed discussions, the following decisions were taken:
1. Highest importance should continue to
be given to ensure convenience for the public. Effort should be made to
avoid long queues in Bank branches, ATMs, etc. Already separate queues
for senior citizens, divyang persons etc. have been announced. 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.
2. Already instructions have been issued
permitting District Central Cooperative Banks (DCCBs) for cash
withdrawal from existing accounts, subject to limits applicable in the
case of Banks. Arrangements have been made to enhance the availability
of cash with the DCCBs.
3. Arrangements have been made to make
available adequate cash to the Postal Department for their use including
the branch Post Offices. There are 1.3 lakh branch Post Offices having
wide coverage in the rural areas. Availability of adequate cash with the
branch Post Offices will ensure wider coverage of the rural areas.
4. Contributions are made in
hundis and separate boxes in places of worship. Such establishments have
their accounts with the Bank branches. Bank branches have been advised
to approach the concerned authorities in these establishments to obtain
the currency notes, especially of lower denomination and put them back
into circulation. This will help in improving the circulation of lower
denomination currency notes.
5. Information has been received that
there is sudden spurt in the quantum of deposits in several Jan Dhan
Accounts. There are also reports of unscrupulous elements using Jan Dhan
Accounts of poor and innocent persons to convert their black money into
white. Such spurt in deposits will be looked into closely. Jan
Dhan Account holders are requested not to allow their accounts to be
misused by anyone. Further, it is also clarified that Jan Dhan Account
holders will not be put to any kind of inconvenience for carrying-out
their legitimate activities.
6. Old Rs.500/- and Rs.1000/- notes are
accumulating in Post Offices and Bank branches. Special efforts will be
made to shift such notes and create space in the Post Offices and Bank
branches to receive new notes.
7. A high level Task Force consisting of
representatives from various agencies is being set-up to monitor
movement/receipt of fake notes in vulnerable areas. This Task Force will
also take special efforts to monitor black money being deposited into
Bank/Postal Accounts, especially under fictitious and other names.
8. A technology team is being set-up to popularize the use of e-wallets.
9. Government is closely monitoring the supply of essential commodities.
10. A coordination group chaired by the
Cabinet Secretary and including representatives of various Departments
and major Banks is holding regular meetings to monitor the
implementation of all the steps.
