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Home » India » No move to seal bank lockers, confiscate jewellery: Finance Ministry

No move to seal bank lockers, confiscate jewellery: Finance Ministry

By Newsd
Updated on :
GST, World Bank rank, Moody's upgrade major events of 2017: Finance Ministry

The Finance Ministry on Friday said there was no move to seal bank lockers nor was it true that the ink of the new ₹2,000 notes has been bleeding in some cases.

“Myth: Next move is to seal bank lockers and confiscate gold, diamonds and jewellery. Reality: This is baseless. There is no proposal to seal bank lockers and confiscate the jewellery,” the ministry tweeted on its official Twitter account.

The ministry also said the ₹2,000 notes have a safety feature, which is called “intaglio” (a design that is incised or engraved into a material).

“To identify a genuine note when you rub it 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 said.

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