India to use indelible ink to stop repeat cash exchanges

India is to use indelible ink to prevent people from exchanging old notes more than once, the government said Tuesday, a week after the withdrawal of high-value banknotes from circulation in a crackdown on "black money". "We have received reports that certain unscrupulous elements, who are trying to turn their black money into white, have organised groups of innocent people and are sending them from one branch to another branch... to exchange notes," Shaktikanta Das, secretary for economic affairs told the media. Prime Minister Narendra Modi announced last week that that 500 and 1,000 rupee ($7.50, $15) bills -- 85 percent of the cash in circulation -- would cease to be legal tender in a crackdown on fraud and tax evasion.