Demonetisation: Supreme Court shoots off notice to Narendra Modi govt, RBI on public not being allowed to deposit banned Rs 500, Rs 1000 notes

By: | Updated: March 6, 2017 3:02 PM

Supreme Court has sent a notice to Centre, and the Reserve Bank of India (RBI) on a plea that alleges that the public is not being allowed to deposit demonetised currency notes till March 31, 2017 as had been promised by them.

demonetisation, demonetisation news, demonetisation latest news, demonetisation urijit patel, supreme court, narendra modiSupreme Court has fixed the petitions on demonetisation for further hearing on March 10. (Reuters)

Supreme Court has sent a notice to Centre, and the Reserve Bank of India (RBI) on a plea that alleges that the public is not being allowed to deposit demonetised currency notes till March 31, 2017 as had been promised by them. PM Narendra Modi and the RBI had announced that the public will be allowed to exchange their banned Rs 500 and Rs 1000 currency notes without any hindrance till March 10. However, a number of complaints have been now received that point out that this is not the case and many are having to returning back home without being allowed to do so.

Supreme Court has fixed the petitions on demonetisation for further hearing on March 10. A Supreme Court bench headed by Chief Justice J S Khehar today said, “Issue notice returnable by Friday.” and asked petitioner Sharad Mishra to serve the copy of its notice to the Centre and the RBI during the course of the day.

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Prime Minister Narendra Modi in his November 8, 2016 speech and a RBI notification had then indicated that people may deposit demonetised currency notes even after December 31, 2016 at RBI branches up to March 31, 2017. However, those who wanted to deposit the banned notes had to follow a certain set procedure and provide certain identification cards or else they would not be allowed to deposit these notes.

The bench, also comprising Justices D Y Chandrachud and S K Kaul considered the argument that the RBI’s last ordinance, which permits only those persons who were outside India during the stipulated period to deposit the demonetised currency notes till March 31, is a breach of assurances given by the Prime Minister and the RBI.

(With PTI inputs)

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