Explorer

Delhi High Court Dismisses PIL Challenging Notifications Allowing Exchange Of Rs 2000 Notes Without ID Proof

A division bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad rejected the plea moved by BJP leader and advocate Ashwini Kumaar Upadhyay

The Delhi High Court on Monday dismissed a PIL challenging the Reserve Bank of India (RBI) and State Bank of India (SBI) notifications, which permits the exchange of Rs 2,000 banknotes without obtaining any requisition slip and identity proof, reported by ANI.

A division bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad rejected the plea moved by BJP leader and advocate Ashwini Kumaar Upadhyay.

Ashwini Kumar Upadhyay submitted that a large amount of currency has reached either an individual's locker or has “been hoarded by separatists, terrorists, Maoists, drug smugglers, mining mafias and corrupt people”. The plea submitted that the notifications were arbitrary, irrational and offend Article 14 of the Constitution.

The RBI has defended before the high court its notification, saying it is not demonetisation but a statutory exercise.

The central bank on May 22 advised all banks to stop issuing Rs 2000 denomination banknotes with immediate effect. However, the banknotes in Rs 2000 denomination will continue to be legal tender.

In a statement, the RBI on Friday said, "The Rs 2000 denomination banknote was introduced in November 2016 under Section 24(1) of RBI Act, 1934, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of legal tender status of all Rs 500 and Rs 1000 banknotes in circulation at that time. The objective of introducing Rs 2000 banknotes was met once banknotes in other denominations became available in adequate quantities. Therefore, printing of Rs 2000 banknotes was stopped in 2018-19. In pursuance of the 'Clean Note Policy' of the Reserve Bank of India, it has been decided to withdraw the Rs 2000 denomination banknotes from circulation. The banknotes in Rs 2000 denomination will continue to be legal tender.”

 

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

UP: Communal Tension Defused In Unnao During Holi; Police Deny Lathicharge Amid Procession In Shahjahanpur
UP: Communal Tension Defused In Unnao During Holi; Police Deny Lathicharge In Shahjahanpur
No Relief For Kannada Actor Ranya Rao After Court Dismisses Bail Plea In Gold Smuggling Case
No Relief For Kannada Actor Ranya Rao After Court Dismisses Bail Plea In Gold Smuggling Case
Haryana Man Attacks Devotees At Golden Temple With Rod, 1 Of 5 Injured In 'Critical Condition'
Haryana Man Attacks Devotees At Golden Temple With Rod, 1 Of 5 Injured In 'Critical Condition'
‘Wasn’t Drunk, Want To Meet Deceased Woman’s Family’: Vadodara Driver After Arrest In Crash Case
‘Wasn’t Drunk, Want To Meet Deceased Woman’s Family’: Vadodara Driver After Arrest In Crash Case
Advertisement
ABP Premium

Videos

Holi 2025: From Ordinary to Extraordinary, Leaders Celebrate the Festival of Colors with JoyHoli Celebration: JP Nadda Celebrates Holi with Supporters, Spreads Joy and Unity Across the NationHoli 2025: Celebrating Unity, Joy, and Colors Across India on March 14thHoli 2025: India Celebrates Festival of Colors with Joy, Unity, and Tradition Across Cities

Photo Gallery

Embed widget