PIL Filed in Delhi HC over Rs 2000 Note Demonetisation Policy

A Public Interest Litigation (PIL) has been filed in the Delhi High Court over the Reserve Bank of India (RBI) and State Bank of India (SBI)’s demonetisation policy concerning the Rs 2000 notes.

According to the PIL, the current stipulation allows for the exchange of Rs 20,000 without the need to provide any identification documents. The petitioner argues that this could facilitate money laundering, as large amounts could potentially be exchanged throughout the day by visiting the bank multiple times at one-minute intervals.

The PIL further argues that since every family in India has an Aadhaar card and a bank account, why not mandate the deposit of Rs 2000 notes into these accounts? This, according to the petitioner, would be a more effective way to regulate the demonetisation process and prevent potential abuse.

The petitioner has called on the Delhi High Court to review the existing policy and consider these proposed amendments. The court is yet to respond to the PIL.

This case highlights the ongoing debates and discussions around the RBI’s recent decision to take Rs 2000 notes out of circulation. As the September 30 deadline for note exchange draws closer, it’s expected that further challenges and suggestions may arise regarding the implementation of this policy.