The Reserve Bank of India (RBI) on May 23 explained to the Delhi High Court that withdrawal of Rs 2,000 notes is not ‘demonetisation’ but a statutory exercise.
Withdrawal Of Rs 2,000 Notes Not ‘Demonetisation’
The RBI said the decision was taken in order to enable their exchange for operational convenience. It is mentioned Advocate Ashwini Kumar Upadhyay’s plea that the notifications enabling exchange of Rs 2,000 banknotes by the RBI and SBI without proof were made arbitrarily and against the laws passed to minimise corruption, was up for hearing before the court.
The Delhi High Court bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad noted that a relevant order will be passed on the Public Interest Litigation (PIL) filed by the lawyer.
”We will look into it. We will pass an appropriate order,” the court remarked. Ashwini Kumar Upadhyay stated that the plea was not meant to challenge the RBI’s decision to withdraw the Rs 2000 currency note but to criticise the exchange of the banknote without a slip or identity proof.
”Why is ID proof excluded ? Every poor has a Jan Dhan account. BPL persons are also connected to bank accounts. The present means of exchange would only help mafias and gangsters, as well as Maoists,” Upadhyay said.
