New currency notes leak colour on rubbing, that's sign of its authenticity: Economic Affairs Secretary

Economic Affairs Secretary Shaktikanta Das on Tuesday addressed the media on the issue of currency overhaul as the nation once again queued up outside banks and ATMs to exchange demonetised old notes of Rs 500 and Rs 1000 with valid denominations.

In his Monday’s press conference, the Economic Affairs Secretary had announced that an RBI task force was set up to ensure speedy re-calibration of ATMs to dispense new notes of Rs 500 and Rs 2000. 

He had also said that a daily cash withdrawal limit of 2,000 was removed and that people could not withdraw up to 24000 rupees from banks per week.

The Government on November 8 banned old notes of Rs 500 and Rs 1000 to curb black money and corruption in India, effectively forcing 86 per cent of Indian currency out of circulation. 

The massive change has brought banking system to its knees as scores of people continue to queue up outside banks and ATMs to get valid currency for daily use.

Also read :

Micro ATMs to be installed, daily cash limit removed, weekly limit set to Rs 24000: Economic Affairs Secy

Cash Crunch: Govt now banking on Micro-ATMs, know all about the device

Here are the live updates: 

#New currency notes leak colour on rubbing, that's sign of its authenticity: Economic Affairs Secretary

#Micro ATMs will be deployed from today (Know all about the device)

#There is anough cash available, there is no reason for any kind of panic: Economic Affairs Secy

#Please do not believe in fake stories circulating on social media: SK Das 

#Govt is closely monitoring to monitor the movement, supply and availability of essential commodities: SK Das  

#The agencies have been advised to closely monitor black money being deposited in banks: Economic Affairs Secy

#To further ease the pressure on banking system, a task force has been set up to draw up a plan of action for shifting old notes: Das

#Have received reports,many ppl trying to convert black money into white have organised grps of people&are sending them to exchange money-Das

#Reason for long queues at banks and ATMs is that the same ppl keep coming again & again at diff places:Economic Affairs Secy Shaktikanta Das

#We urge religious places like temples to submit small denominations in their bank accounts to ingest loose currency in system: Economic Affairs Secy 

# Indelible ink to be used on bank customers to avoid repeat visits by same people: Economic Affairs Secretary Shaktikanta Das

#Have been trying to analyse reasons for long queues,it has come to notice that same people are coming again at same places: Shaktikanta Das