NEW DELHI: Situation turned from bad to worse today with bank IT networks breaking down and ATMs running out of cash, prompting Government to direct the use of indelible ink mark to weed out repeat currency exchangers and syndicates so as to cut unending queues.
Serpentine queues, with some as long as a kilometer were seen nationwide at banks which opened after a day’s break but soon crumbled under pressure in the absence of supporting cash vending machines.
Several bank branches saw their networks break down even as Government looked at ways of augmenting supply of new 2000 and 500 rupee notes, which have been introduced in place of the scrapped older higher denomination Rs 500/1000 notes.
Government said it is also watching zero-balance Jan Dhan accounts which, according to reports, are being used to convert black money into white.
It has set up a high-level committee under Cabinet Secretary P K Sinha to monitor supply of essential commodities.
The steps follow Prime Minister Narendra Modi holding second late night review meeting in as many days to assess situation developing following domination of currency. The meetings on Sunday and Monday night were attended by Finance Minister Arun Jaitley and RBI Governor Urjit Patel among other officials.
Giving details of the meeting, Economic Affairs Secretary Shaktikanta Das said the Government has set-up a high-powered group under the Cabinet Secretary to monitor supply of essential goods in the wake of disruption of trade due to shortage of currency notes. (AGENCIES)
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