Intensifying the crackdown on laundering of illicit wealth, tax authorities are keeping a close vigil on jewellers to check if sales are being broken down into sub-Rs 2 lakh to avoid quoting of PAN.
Allaying fears of shortage, the Finance Ministry Monday said there is enough cash in the system and delivery channels are being augmented across the country to help cash-starved citizens.
Government has set up a task force under the chairmanship of RBI Deputy Governor S S Mundra to ensure that ATMs across the country are ready to dispense higher denomination notes in the shortest time.
In anticipation of the huge demand for lower currency notes, ahead of the demonetisation move, the Reserve Bank of India had asked banks to set up Automated Teller Machines which dispensed only Rs 100 notes.
Nearly a week after the government withdrew Rs 500 and Rs 1,000 notes as part of a crackdown against blackmoney and corruption, queues outside banks and ATMs have only got longer.
Police in Hyderabad booked two employees of a bank for exchanging demonetised notes worth Rs 6 lakh without identification proof.
The Economic Affairs Secretary Shaktikanta Das, in a press briefing on Monday, listed out the list of emergency measures that government has taken on a fire-fighting mode to disburse cash to common public in every nook and corner of the country.
Finance Ministry, on early Monday morning announced that the demonetised notes of Rs 500 and Rs 1000 would be acceptable at government hospitals, petrol stations till November 24.
With Monday being holiday on account of Guru Nanak Jayanti, most of the banks will remain closed for transactions. As a result, the refilling of ATMs is also likely to be affected.
Economic affairs secretary Shaktikanta Das on Monday said that government has extended the date of accepting old series of Rs 500 and Rs1000 for certain categories.
Let's take a look at the features of new Rs 500 notes.
Prime Minister Narendra Modi held meeting with senior ministers on demonetisation late on Sunday night.
Daily limit for withdrawing cash from ATMs has been increased to Rs 2,500 from existing Rs 2,000 announced Ministry of Finance on Sunday.
State Bank of India (SBI) expects to calibrate 1,000 of its ATMs for Rs 2,000 currency notes by Monday night, its Chairman Arundhati Bhattacharya said on Sunday.
New currency notes of Rs 500 were issued by banks on Sunday.
Filling around 200,000 automated teller machines with the new Rs 500 and Rs 2,000 currency notes nationwide is a mammoth task for the companies offering such services.
Zee Media Bureau
New Delhi: The much talked about 2000 rupee note, so far has failed to charm common public despite its pretty-pink, slimmer and lighter weight.
The Finance Ministry said on Saturday that the ATMs will be able to disburse new currency notes only by early December as recalibration of the machines requires both hardware and software modifications.
The demonetisation of high value currency notes by the Modi government has suddenly made 'money-changers' and 'entry-operators' active in managing black money.