Cooperative Banks In Kerala Move HC Against Discrimination On Demonetisation Drive [Read Petition]

The Petition seeks a direction declaring that the denial of transaction right to the petitioner in exchanging currency, results in the denial of the constitutional rights of the members and violative of Article 19 and 21 of the Constitution of India.Primary cooperative banks have filed writ petitions before the Kerala High Court challenging the RBI demonetisation drive and seeking currency for transactions.One such writ petitions filed by Kallettumkara Service Co-operative Bank sought a declaration to the effect that the denial of transaction rights to the petitioner as permitted to other banks, which are functioning under the purview of the Banking Regulation Act, is illegal, arbitrary and unconstitutional. It further contended that the denial of transaction right to it in exchanging currency, results in the denial of the constitutional rights of the members and violative of Articles 19 and 21 of the Constitution of India.“Most of the persons who are account holders of the petitioner are the farmers and daily wage earners, who are required to withdraw amounts for their daily requirements and for the agricultural purposes, which cannot be postponed because of dire necessity. They are people who do not have the transactional right for their daily requirements through credit cards or debit cards. They need hard money for their exchange. When they are in need of hard money for their exchange and when they are having accounts in the petitioner bank alone, denial of their right to withdraw amount constitute violation of their constitutional rights and the right to have a decent life as guaranteed under the Constitution,” the bank stated in its writ petition.The bank also stated that 60% of the people of the country do not have accounts in banks or lending institutions. “They have implemented the decision under the impression that people will be transacting their banking requirements through credit cards forgetting the fact that persons having credit cards are less than 10% of the population,” the petition read.The Petition prayed for the following reliefs:i. Issue a writ in the nature of mandamus directing Government and RBI to provide currency to the petitioner bank for transacting its activities within the parameters provided in the notifications subject to modification and changes that may be introduced.ii. Issue a writ declaring that the denial of transaction right to the petitioner as permitted to other banks which are functioning under the purview of the Banking Regulation Act is illegal, arbitrary and unconstitutional.iii. Issue a writ declaring that the denial of transaction right to the petitioner in exchanging currency, results in the denial of the constitutional rights of the members and violative of Article 19 and 21 of the Constitution of India.Read the petition here.This article has been made possible because of financial support from Independent and Public-Spirited Media Foundation.

Cooperative Banks In Kerala Move HC Against Discrimination On Demonetisation Drive [Read Petition]

Ashok KM

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Cooperative Banks In Kerala Move HC Against Discrimination On Demonetisation Drive [Read Petition]

Ashok KM

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