India

Demonetisation : SC asks Centre & RBI to give genuine cases ‘another chance’

Rs 500, Rs 1,000, old notes

New Delhi, July 4 : In a bid to ease troublesome for genuine people who couldn’t able to deposit old currency notes, the Supreme Court asked centre and Reserve Bank of India to give them another chance.

A vacation bench comprising Chief Justice J S Khehar and Justice D Y Chandrachud has given two weeks to consider the option of granting a window to the people who could not deposit their old currency notes of  Rs 500 and Rs 1,000 due to a legitimate reason.

Following this, the central government told the bench that it would file an affidavit in the case.

The apex court was hearing clutches of petitions, including a plea filed by advocate Sudha Mishra seeking a direction from authority to deposit of old currency notes of Rs. 500 and 1,000.

Last year in December, Modi government scrapped higher denomination notes of Rs 1000 and Rs 500 to curb black money.

The central government assured that people could be exchanged their demonetised currencies at banks, post offices and RBI branches till December 30, 2016. Later, it increased the deadline to  March 31, 2017,but only at RBI branches.

Wefornews Bureau

 

 

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