AMN /
The Finance Ministry has tried to dispel the rumors circulating around government’s demonetisation move. Ministry on Friday said that there is no move to seal bank lockers nor is it true that ink of new 2,000 rupees notes has been bleeding in some cases, adding that the notes have a safety feature, which is called intaglio, a design that is incised or engraved into a material.
The Ministry said, to identify a genuine note, when it is rubbed against a cloth, a turbo-electric effect is generated and it is due to this that the note’s ink gets transferred on to the cloth.
The Ministry also rebutted the rumours that the government’s demonetisation move is only a cosmetic exercise and that people will be able to find out other ways to keep their black money.
It said, the enforcement agencies are keeping a vigil and necessary changes have been made in Benami Transactions Act and in agreement of sharing information for curbing black money.
It also refuted reports that new notes have chips intalled in it for keeping a tab on black money hoarders saying that these are all baseless and imaginary reports.
In response to a myth that cost of implementing the demonetisation move is greater than the profit it would yield, the ministry said, parallel economy casts shadow on the country’s economy and adversely impacts the poor and middle class.
The ministry also denied allegations that some corporate houses and party people were already tipped off about government’s demonetisation move.
The Ministry said, all precautions were taken to keep the move confidential and nobody was aware about this move or its preparations. It said, the reports are baseless that the government is planning to demonetise 100 and 50 rupees notes.