1. Demonetisation: Supreme Court issues fresh notices to Centre and RBI, asks them to reply within two weeks

Demonetisation: Supreme Court issues fresh notices to Centre and RBI, asks them to reply within two weeks

The Supreme Court has today issued notices to Centre and Reserve Bank of India (RBI) asking them to reply on the issue related to deposition of old notes within two weeks.

By: | New Delhi | Updated: March 21, 2017 2:08 PM
The top court has fixed the hearing on April 11. (PTI)

The Supreme Court has today issued notices to Centre and Reserve Bank of India (RBI) asking them to reply on the issue related to deposition of old notes within two weeks. It also fixed next hearing on April 11.

During the hearing, the apex court had asked the petitioner to show proof on whether he had gone to banks to deposit the old currency notes or not. While pointing out that this matter had nothing to do with demonetisation, the top court asked the person to file a fresh application against the concerned bank. After that the court would again hear the matter on April 11, it said.

In its last hearing before the Supreme Court, the Centre had submitted that rather than filing the reply it would argue the matter directly. On March 6, the apex court had issued notices to the Centre and the RBI on an appeal pointing out that people are not being permitted to deposit demonetised currency notes till March 31 as was promised earlier.

On December 31, the RBI had asked its five offices in Delhi, Mumbai, Kolkata, Chennai and Nagpur to exchange old currency notes of Rs 500 and Rs 1,000, after the 50-day demonetisation period that ended a day earlier.

In his address to the nation on November 8 last year, Prime Minister Narendra Modi had said that there might be some, who may not be able to submit old notes by December 30.

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In the meantime, encouraged by the recent poll results. the BJP- led NDA Government had yesterday stressed that the demonetisation step taken by it had a huge support, as it dealy a big blow to the shadow economy which was nearly 33.7 percent. Speaking in Lok Sabha, Union Minister of State for Finance Arjun Ram Meghwal said that the demonetisation step would boost GDP .

(With inputs from PTI)

  1. R
    Rakesh Mondal
    Mar 21, 2017 at 10:31 am
    This is not right decision. Sudden decision may cause silly mistake.that does not mean that apex authority change opinion frequently hour after hour
    Reply

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