India struggles as millions throng banks to swap currency
NEW DELHI — India’s government said Tuesday it will use indelible ink to mark the fingers of people swapping scrapped currency notes at banks as authorities struggle to deal with the bedlam caused by the sudden demonetizing of the country’s highest-denomination bills.
India announced a week ago that it was withdrawing 500 and 1,000 rupee notes as legal tender to fight corruption and tax evasion. However, people are allowed a onetime swap of 4,000 rupees ($59) at any bank in exchange for smaller notes to meet immediate needs. Overwhelmed banks have been unable to ensure that people don’t line up more than once, since IDs such as drivers’ licenses and passports are not linked to bank or tax accounts.
Economic Affairs Secretary Shaktikanta Das said there have been reports of “unscrupulous people” who have organized groups of innocent people and sent them from bank to bank to swap old notes.
India also uses indelible ink to mark the fingers of voters after they cast their ballots in elections.