Deposit Of Old Notes: SC Issues Notice To RBI, Centre [Read Petition]

Deposit Of Old Notes: SC Issues Notice To RBI, Centre [Read Petition]

Supreme Court on Monday issued notice to Centre and Reserve Bank of India on a batch of PILs alleging that the citizens were not being allowed to deposit old Rs 500 and Rs 1000 notes after demonetisation till March 31 as promised by Prime Minister Narendra Modi.

A Bench headed by Chief Justice of India (CJI) JS Khehar asked the petitioners counsel to serve copies to government counsel today itself and fixed the matter for hearing on Friday.

Finance Ministry and RBI have been directed to file response by next date of hearing.

The petitions accused the Government of breaching the promises which the Prime Minister Narendra Modi made on November 8, 2016 hours before declaring the high value currencies Rs 500 and Rs 1000 legally not valid.

PM's speech and the subsequent notification in demonetisation have assured that a person shall deposit the notes in special circumstances till March 31, 2017, but in its Ordinance in December 2016, the government has failed to mention about it, one of the petitioners counsel told the court.

"Despite postulations, no individual has been permitted to deposit after December 31, 2016," the Bench recorded in its order.

Read the petition here.