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SC refuses to stay demonetisation scheme but asks Centre to address public inconvenience

The Supreme Court today refused to stay the demonetisation of Rs 500 and Rs 1000 currency note but directed the centre to take requisite steps to ensure that the general public was not burdened by

India TV News Desk, New Delhi [ Updated: November 15, 2016 15:54 IST ]
Supreme Court refuses to stay demonetisation drive
Image Source : PTI Supreme Court refuses to stay demonetisation drive

The Supreme Court today refused to stay the demonetisation of Rs 500 and Rs 1000 currency note but directed the Centre to take requisite steps to ensure that the general public was not burdened by its decision.

"We will not be granting any stay," a bench comprising Chief Justice T S Thakur and D Y Chandrachud said.

The bench was hearing a batch of petitions seeking to quash government's decision to demonetise Rs 1,000 and Rs 500 currency notes.

Taking note of the difficulties faced by the common people, the apex court asked the Centre about the steps it took in this regard. “What more steps are you exploring and considering in relation to inconvenience caused to people?” the Supreme Court asked the Centre.

“Discontinuing of higher denomination notes appears to be carpet bombing and not surgical strike,” the bench added.

The bench asked Attorney General Mukul Rohatgi to file an affidavit about the measures already undertaken by the government and the Reserve Bank of India to minimise public inconvenience

The court observed, “We are not interfering with the economic polices of the government but want to examine the scope of section 26 of RBI Act which permits demonetiosation.”

Attorney General Mukul Rohatgi informed the bench that Rs 3.25 lakh crore were deposited in the banks since November 10 and Rs 11 lakh crore would be added in the next few days.

The hearing has been adjourned to November 25.

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