note demonetisation

Give citizens with ‘genuine reasons’ another chance to deposit demonetised notes: SC tells Centre

The division bench has directed the government to file an affidavit in the case within two weeks.

The Supreme Court on Tuesday asked the Centre to give citizens with “genuine reasons” another chance to deposit the demonetised Rs 500 and Rs 1,000 notes. The division bench directed the government to file an affidavit in the case within two weeks, scheduling the next hearing for July 18.

The bench made the appeal while hearing a petition filed by advocate Sudha Mishra and others, who had challenged the Centre’s decision to not allow citizens to deposit the scrapped notes beyond December 30, 2016, reported Bar and Bench. Chief Justice JS Khehar and Justice DY Chandrachud said the Centre cannot deny people the right to exchange the invalid currency.

“One cannot make people suffer if they have genuine reasons. They should be allowed to deposit the old notes,” the court said, according to ANI.

The demonetisation of Rs 500 and Rs 1,000 notes in November 2016 had caused a cash crunch in the country as the bills had made up nearly 86% of the currency in circulation then. While people were given time till December 30, 2016, to exchange the notes at post offices and banks, the deadline to deposit them at the Reserve Bank of India was March-end.

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