2000 Note Exchange: This decision of RBI was challenged in the Supreme Court, know the whole matter
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without prescription and id card Rs 2000 The decision of the Reserve Bank of India to allow the exchange of Rs 1000 bank notes has now been challenged in the Supreme Court. After the petition was rejected by the Delhi High Court, petitioner advocate Ashwini Kumar Upadhyay moved the apex court.
What was the argument made in the petition
Significantly, petitioner and advocate Ashwini Kumar Upadhyay said that a large amount of these notes have either reached a person’s vault, or are with separatists, terrorists, Maoists, drug smugglers, mining mafia and corrupt people. It was said in the petition that the said notification is arbitrary, irrational and violates Article 14 of the Constitution.
Delhi High Court dismissed the petition
Significantly, the Delhi High Court on Monday dismissed a petition challenging the notification to exchange Rs 2,000 notes without filling the slip and without identity proof. A bench of Chief Justice Satish Kumar Sharma and Justice Subramaniam Prasad dismissed the petition. RBI defended its notification before the High Court saying that it is not demonetisation but a statutory action.
Advocate Ashwini Upadhyay moves Supreme Court two days after the Delhi High Court dismissed his plea challenging RBI’s decision permitting citizens to exchange Rs 2000 banknotes, which are being pulled out of circulation, without any requisition slip and ID proof. pic.twitter.com/rXDpOmgKYk
— ANI (@ANI) May 31, 2023
Time till September 30 to exchange 2000 notes
It is known that on May 19, the RBI had announced that the 2000 note would be taken out of circulation. However, RBI has also given people time from 23 May to 30 September to convert it into banks. RBI had also said that if 2000 notes are left with anyone even after 30 September, then no action will be taken against them. RBI had also instructed all the banks that neither any ID card should be demanded from the people who came to exchange 2000 notes, nor any slip form should be filled for this.
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