SC Issues Notice On Plea To Allow Deposit Of Demonitised Currency Worth Rs 1.17 Crores
5 years, 4 months ago

SC Issues Notice On Plea To Allow Deposit Of Demonitised Currency Worth Rs 1.17 Crores

Live Law  

More than two and half years after ban of Rs 1000 and Rs 500 notes, a fresh petition was filed by a Madurai based businessman before the Supreme Court seeking direction to Reserve Bank of India to accept his money amounting to Rs 1, 17,00, 872 which is part of his textile business. A Bench comprising justices N V Ramana, Indira Banerjee and Ajay Rastogi issued notice to RBI and tagged the plea with other similar petitions which are pending before the Apex Court. Petitioner K Raman, proprietor of AJAI Exim, in his petition tells the Apex Court that the aforesaid amount was not accepted by any of the bank even on December 30, 2016, the last day of the deadline to deposit the old notes of Rs 1000 and Rs 500. In his first term, Prime Minister Narendra Modi on 8 November, 2016 had announced that Rs 500 and Rs 1,000 notes would no longer be valid from next day onwards.

Court Money Bank Rbi Bench Petition Reserve Bank His Money Reserve Bank Of India  worth  bank  demonitised  notice  1000  reserve  petitioner  issues  court  rs  currency  sc  money  deposit  rbi  plea  crores  notes  petition

History of this topic

97.76 per cent of Rs 2,000 currency notes returned, says RBI
8 months, 1 week ago

97.76 per cent of Rs 2,000 currency notes returned, says RBI

India TV News  

The Reserve Bank of India revealed that as of May 2, 97.76% of the Rs 2,000 currency notes in circulation since May 19, 2023, have been reintegrated into the banking system. The total value of Rs 2,000 banknotes dropped significantly from Rs 3.56 lakh crore in May 2023 to just Rs 7,961 crore by April 30, 2024, marking a substantial …

Making Deposit At One Go After Declaration Of Demonetization Is No Reason For Doubting Cash Sales: Indore ITAT
9 months, 1 week ago

Making Deposit At One Go After Declaration Of Demonetization Is No Reason For Doubting Cash Sales: Indore ITAT

Live Law  

While deleting the addition made by the AO u/s 68 of the Income Tax Act, the Indore ITAT held that once the cash sales and availability of the cash with the assessee is duly supported by the books of account of the assessee, then making deposit at one go in the circumstances after declaration of demonetization cannot be a reason …

RBI not considering re-introduction of Rs 1,000 notes: Sources
1 year, 2 months ago

RBI not considering re-introduction of Rs 1,000 notes: Sources

India TV News  

The Reserve Bank of India is not mulling re-introduction of Rs 1,000 currency notes, sources said, amid speculations that Rs 1,000 notes may be re-introduced after the RBI announced the withdrawal of Rs 2,000 currency notes. Demonetisation On November 8, 2016, Prime Minister Narendra Modi addressed the nation and announced the demonetisation of Rs 500 and Rs 1,000 currency notes. …

Indians still hold Rs 12,000 cr in Rs 2,000 notes that will go out of circulation soon
1 year, 3 months ago

Indians still hold Rs 12,000 cr in Rs 2,000 notes that will go out of circulation soon

Firstpost  

RBI Governor Shaktikanta Das said, so far, nearly 87 per cent of Rs 2,000 banknotes have been returned to the banks in form of deposits Reserve Bank of India Governor Shaktikanta Das on Friday said 2,000 rupee notes worth Rs 12,000 crore are still in circulation. “Rs 12,000 crore of the Rs 3.56 lakh crore worth of Rs 2,000 notes …

RBI extends deadline to exchange ₹2,000 notes till October 7
1 year, 3 months ago

RBI extends deadline to exchange ₹2,000 notes till October 7

Hindustan Times  

The Reserve Bank of India has extended the deadline for the exchange of ₹2000 notes till October 7. b) ₹2000 banknotes can continue to be exchanged by individuals / entities at the 19 RBI Issue Offices up to a limit of ₹20,000/- at a time. c) Individuals / Entities can tender ₹2000 banknotes at the 19 RBI Issue Offices for …

‘Over Two-Third Of Rs 2,000 Notes Have Returned To System’: RBI Governor
1 year, 6 months ago

‘Over Two-Third Of Rs 2,000 Notes Have Returned To System’: RBI Governor

News 18  

Reserve Bank of India Governor Shaktikanta Das on Sunday said that within a month of the withdrawal order of Rs 2,000 notes, more than two-thirds of the total currency in circulation has returned to the system. Speaking in an interview with PTI, Governor Shaktikanta Das said, “More than two-thirds or Rs 2.41 lakh crore worth of the Rs 3.62 lakh …

Currency In Circulation Dips To 5.3% Due To Rs 2,000 Note withdrawal; Digital Payments Rise RBI Bulletin
1 year, 6 months ago

Currency In Circulation Dips To 5.3% Due To Rs 2,000 Note withdrawal; Digital Payments Rise RBI Bulletin

ABP News  

Currency in circulation, which is the largest part of the reserve money, declined to 5.3 per cent from 8.3 per cent in the year-ago period due to the withdrawal of Rs 2,000 notes from circulation and an increase in digital mode of payments, the Reserve Bank of India said in its bulletin on Friday. The RBI also reported that reserve …

RBI Has No Plan To Withdraw Rs 500 Note Or Bring Rs 1,000 Note; All You Need To Know
1 year, 7 months ago

RBI Has No Plan To Withdraw Rs 500 Note Or Bring Rs 1,000 Note; All You Need To Know

News 18  

Reserve Bank of India’s Governor Shaktikanta Das on June 8 made it clear that RBI is not thinking of withdrawing Rs 500 notes, or even re-introducing notes in the Rs 1,000 denomination, and requested the public not to speculate on this. While announcing the decisions of the Monetary Policy Committee on Thursday, Das also informed that about 50% of Rs …

Supreme Court seeks report from Registry on urgent listing of plea challenging RBI decision on ₹2,000 note exchange
1 year, 7 months ago

Supreme Court seeks report from Registry on urgent listing of plea challenging RBI decision on ₹2,000 note exchange

The Hindu  

The Supreme Court on June 7 sought a report from its Registry on the issue of urgent listing of a plea challenging the notifications enabling the exchange of ₹2,000 currency notes without any requisition slip and ID proof. On June 1, the top court refused to list for an urgent hearing of Mr. Upadhyay's plea challenging the notifications and said …

‘How Can You Mention Again?You Can’t Come To A Different Bench’: Supreme Court Questions Ashwini Upadhyay’s Repeated Mentioning Of Plea Related To Rs 2000 Note
1 year, 7 months ago

‘How Can You Mention Again?You Can’t Come To A Different Bench’: Supreme Court Questions Ashwini Upadhyay’s Repeated Mentioning Of Plea Related To Rs 2000 Note

Live Law  

A Supreme Court Vacation Bench comprising Justice Aniruddha Bose and Justice Rajesh Bindal on Wednesday sought a report from the Supreme Court registry of the last mentioning of Advocate Ashwini Upadhyay's petition challenging Reserve Bank of India and State Bank of India's notifications that permit exchange of Rs. Advocate Upadhyay mentioned his plea against the Delhi High Court's dismissal of …

SC refuses urgent listing of plea challenging RBI decision on ₹2,000 note exchange
1 year, 7 months ago

SC refuses urgent listing of plea challenging RBI decision on ₹2,000 note exchange

The Hindu  

The Supreme Court on Thursday refused to list for urgent hearing a plea challenging the notifications enabling exchange of ₹2,000 denomination currency notes without any requisition slip and ID proof. Seeking urgent listing of the plea, the lawyer said the ₹2,000 banknotes are being exchanged without any requisition slip and ID proof like Aadhaar card by criminals and terrorists also. …

Exchange Rs 2,000 denomination currency notes without ID proof is valid: Court dismisses plea
1 year, 7 months ago

Exchange Rs 2,000 denomination currency notes without ID proof is valid: Court dismisses plea

India TV News  

The Delhi High Court on Monday dismissed a petition challenging the notifications enabling the exchange of Rs 2,000 denomination currency notes without any requisition slip and ID proof, saying it has been done to avoid inconvenience to citizens, and the court cannot sit as an appellate authority on a policy decision. The high court said the Public Interest Litigation is …

Delhi HC dismisses plea challenging permission to exchange Rs 2,000 notes without requisition slip, ID proof
1 year, 7 months ago

Delhi HC dismisses plea challenging permission to exchange Rs 2,000 notes without requisition slip, ID proof

India TV News  

New Delhi: The Delhi High Court on Monday dismissed a plea challenging permission to exchange of Rs 2,000 currency notes without any requisition slip and identity proof. Petitioner and advocate Ashwini Kumar Upadhyay submitted that a large amount of currency has reached either an individual's locker or has “been hoarded by separatists, terrorists, Maoists, drug smugglers, mining mafias and corrupt …

‘Not Demonetisation, Only Currency Management Exercise’: RBI To Delhi High Court On Decision To Withdraw Rs 2,000 Currency Notes From Circulation
1 year, 7 months ago

‘Not Demonetisation, Only Currency Management Exercise’: RBI To Delhi High Court On Decision To Withdraw Rs 2,000 Currency Notes From Circulation

Live Law  

The Reserve Bank of India on Friday defended its recent decision to withdraw Rs 2,000 notes from circulation and informed the Delhi High Court that it is only a “currency management exercise” and not demonetisation.Senior Advocate Parag P. Tripathi made the submission before a division bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad during the hearing of …

Himachal: Devotee donates ₹8 lakh in ₹2,000 notes at Jawalaji Temple
1 year, 7 months ago

Himachal: Devotee donates ₹8 lakh in ₹2,000 notes at Jawalaji Temple

Hindustan Times  

Two days after the Reserve Bank of India announced the withdrawal of ₹2,000 banknotes from circulation, the authorities at Jwalaji Temple in Kangra district found 400 notes of the denomination in its donation box. A day after the Reserve Bank of India announced the withdrawal of ₹ 2,000 banknotes from circulation, the authorities at Jawalaji Temple in Kangra district found …

Rs 2000 Note Exchange: Punjab National Bank Clarifies There's No Need To Show ID Card, Fill Form
1 year, 7 months ago

Rs 2000 Note Exchange: Punjab National Bank Clarifies There's No Need To Show ID Card, Fill Form

ABP News  

State-run lender Punjab National Bank on Tuesday said there is no need to show any identity proof such as Aadhaar card or present any official verified documents as well as need to fill any form at any of its branches to exchange Rs 2000 currency notes, according to news agency ANI. The latest notification comes from PNB after old bank …

'PM Modi was not at all in favour of Rs 2,000 notes,' says Former Principal Secretary
1 year, 7 months ago

'PM Modi was not at all in favour of Rs 2,000 notes,' says Former Principal Secretary

India TV News  

Prime Minister Narendra Modi was not at all in favour of Rs 2,000 notes as he never considered it to be as note of the poor but as demonetisation was to be done in a limited time, he gave reluctant permission for it, said Nripendra Misra, Former Principal Secretary to the Prime Minister. But, as demonetisation was to be done …

Congress cries foul over phasing out of Rs 2000 currency notes: How several Congress govt followed the ‘demonetisation’ path to control black money
1 year, 7 months ago

Congress cries foul over phasing out of Rs 2000 currency notes: How several Congress govt followed the ‘demonetisation’ path to control black money

Op India  

On 19th May 2023, the Reserve Bank of India announced that it is withdrawing the circulation of ₹2000 currency notes. But while accusing the Modi government of miscalculating demonetisation in 2016 and withdrawing Rs 2000 notes in 2023, congress has forgotten the currency decisions it took. In the first demonetisation, Rs 500, Rs 1,000 and Rs 10,000 notes were demonetised …

Rs 2,000 note will continue to be legal tender, no reason to rush to banks: RBI
1 year, 7 months ago

Rs 2,000 note will continue to be legal tender, no reason to rush to banks: RBI

India TV News  

Shaktikanta Das, governor of the Reserve Bank of India, said on Monday that no one should rush to return or exchange their 2,000 rupee notes, a day before people start approaching banks to give up the high-value notes. The chief of the RBI added, "Rs 2000 bank notes were introduced primarily to replenish the notes withdrawn following demonstration." The governor …

Will Rs 1,000 notes make a comeback? Here's what RBI Governor says
1 year, 7 months ago

Will Rs 1,000 notes make a comeback? Here's what RBI Governor says

India TV News  

Will Rs 1,000 notes make a comeback after the Reserve Bank of India announced the discontinuation of Rs 2,000 currency notes from the market. Well speaking on the matter, RBI Governor Shaktikanta Das has said that the RBI does not have any plans to re-introduce Rs 1,000 notes after its order to withdraw Rs 2,000 denomination from circulation. The Reserve …

'Only Those Who Accumulated Rs 2000 Notes Illegally Are Crying': Haryana Minister Anil Vij On RBI Move
1 year, 7 months ago

'Only Those Who Accumulated Rs 2000 Notes Illegally Are Crying': Haryana Minister Anil Vij On RBI Move

ABP News  

New Delhi: Haryana's Home Minister Anil Vij has said that only those who accumulated Rs 2,000 currency notes illegally are crying over the Reserve Bank of India's decision to withdraw the highest-value currency note from circulation. In a surprise move, on Friday, RBI announced the withdrawal of Rs 2,000 currency notes from circulation but gave the public time till September …

2000 Rs Note Exchange SBI No Forms ID Proof Requisition Slip Needed Upto Limit Rs 20000 State Bank of India
1 year, 7 months ago

2000 Rs Note Exchange SBI No Forms ID Proof Requisition Slip Needed Upto Limit Rs 20000 State Bank of India

ABP News  

In yet another development into the withdrawal of Rs 2,000 currency notes, the State Bank of India has issued a clarification regarding the exchange of Rs 2,000 currency notes. The SBI in a circular which was issued on Saturday said that people don't need to fill out requisition forms if a person wishes to exchange their Rs 2,000 currency notes …

Demonetization of Rs 2000 notes evokes reactions
1 year, 7 months ago

Demonetization of Rs 2000 notes evokes reactions

Deccan Chronicle  

CHENNAI: The Reserve Bank of India’s announcement to demonetize Rs 2000 currency notes triggered a wide range of reactions with Chief Minister M K Stalin coming up with a tweet: ‘500 doubts, 1000 mysteries, 2000 mistakes. Annamalai, however, said that only banks would not accept Rs 2000 notes after September 30, adding common people can transact business with it among …

Demonetisation in India in 10 stories: Understanding the Rs. 2000 ban
1 year, 7 months ago

Demonetisation in India in 10 stories: Understanding the Rs. 2000 ban

The Hindu  

Published : May 20, 2023 20:21 IST - 1 MIN READ The Reserve Bank of India made a significant announcement on May 19 regarding the withdrawal of the highest denomination currency note in circulation, the Rs 2,000 note. While reaffirming its status as legal tender, the central bank stated that existing Rs 2,000 notes could be deposited or exchanged in …

India announces surprise withdrawal of highest-value banknotes
1 year, 7 months ago

India announces surprise withdrawal of highest-value banknotes

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy India is withdrawing its highest …

₹2,000 banknotes withdrawal will help curb…: Ex RBI official
1 year, 7 months ago

₹2,000 banknotes withdrawal will help curb…: Ex RBI official

Live Mint  

Ex-Reserve Bank of India Deputy Governor R Gandhi has said that withdrawal of the ₹2,000 banknotes will help in curbing black money to a “great extent”, PTI reported. On Friday, the RBI announced the withdrawal of ₹2,000 currency notes from circulation, and existing notes in circulation can either be deposited in bank accounts or exchanged by September 30. The ₹2,000 …

Trick to hide BJP's Karnataka disaster, says MK Stalin as Rs 2,000 notes withdrawn
1 year, 7 months ago

Trick to hide BJP's Karnataka disaster, says MK Stalin as Rs 2,000 notes withdrawn

India Today  

Tamil Nadu Chief Minister MK Stalin took a potshot at the Bharatiya Janata Party after the Reserve Bank of India’s decision to withdraw Rs 2,000 notes from circulation. He took to Twitter and said, “500 doubts, 1000 mysteries, 2000 errorsâ€æTrying to hide Karnataka disaster using a single trick.” The RBI, on Friday, decided to withdraw Rs 2,000 denomination banknotes from …

'We'll not see any perceptible effect on economy': Ex-NITI Aayog Vice Chairman on 2,000 notes withdrawal
1 year, 7 months ago

'We'll not see any perceptible effect on economy': Ex-NITI Aayog Vice Chairman on 2,000 notes withdrawal

India TV News  

2,000 notes withdrawal: A day after the withdrawal of Rs 2,000 currency notes from circulation, former NITI Aayog Vice Chairman Arvind Panagariya said the RBI's decision will not have any 'perceptible effect' on the economy as any such notes returned will be replaced by either equivalent cash in lower denomination notes or a deposit. Any currency in Rs 2,000 notes …

RBI to withdraw ₹2,000 notes from circulation
1 year, 7 months ago

RBI to withdraw ₹2,000 notes from circulation

The Hindu  

The Reserve Bank of India, on May 19, decided to withdraw ₹2,000 note from circulation. “In view of the above, and in pursuance of the ‘Clean Note Policy’ of the Reserve Bank of India, it has been decided to withdraw the ₹2,000 denomination bank notes from circulation,” the RBI said. “Members of the public are encouraged to utilise the time …

'First Act, Second Think': Opposition as RBI withdraws Rs 2,000 notes
1 year, 7 months ago

'First Act, Second Think': Opposition as RBI withdraws Rs 2,000 notes

India Today  

The Opposition lashed out at the Centre and Prime Minister Narendra Modi after the Reserve Bank of India announced that it has decided to withdraw Rs 2,000 notes from circulation and asked people to exchange their notes by September 30. 2,000 rupee notes introduced with such fanfare after that singularly disastrous Tughlaqi firman of Nov 8 2016 are now being …

RBI website crashes after announcing the scrapping of ₹2,000 notes
1 year, 7 months ago

RBI website crashes after announcing the scrapping of ₹2,000 notes

Hindustan Times  

After the Reserve Bank of India announced the scrapping of the seven-year-old ₹2000 notes, the official website of the central bank crashed as people rushed to know more details about the announcement. Earlier, the website had faced a similar fate following heavy traffic after PM Narendra Modi's surprise demonetisation of ₹500 and ₹1,000 notes in November 2016. Notably, the ₹2,000 …

BREAKING | RBI Will Withdraw ₹2000 Notes From Circulation But They Will Continue As Legal Tender
1 year, 7 months ago

BREAKING | RBI Will Withdraw ₹2000 Notes From Circulation But They Will Continue As Legal Tender

Live Law  

The Reserve Bank of India today announced that it will withdraw ₹2000 notes from circulation. However, the currency will continue as Legal Tender.As per RBI, this denomination is not commonly used for transactions.People may deposit ₹2000 banknotes into their bank accounts and/or exchange them into banknotes of other denominations at any bank branch, RBI said. People may deposit ₹2000 banknotes …

RBI to withdraw ₹2000 currency note from circulation
1 year, 7 months ago

RBI to withdraw ₹2000 currency note from circulation

Hindustan Times  

The Reserve Bank of India on Friday withdrew ₹2,000 currency notes from circulation. The ₹2,000 denomination bank note was introduced in November 2016 after the Modi government had introduced demonetisation of ₹500 and ₹1,000 notes. As per RBI, the objective of introducing ₹2,000 notes was met once banknotes in other denominations became available in adequate quantities. The people may deposit …

RBI to withdraw Rs 2,000 notes from circulation: All you need to know
1 year, 7 months ago

RBI to withdraw Rs 2,000 notes from circulation: All you need to know

Firstpost  

The public can deposit Rs 2,000 notes into their bank accounts or exchange them for notes of other denominations at any bank branch from 23 May RBI will withdraw Rs 2,000 currency note from circulation but it will continue to be legal tender till 30 September 2023. Here’s everything that you need to know as per the RBI statement: The …

Demonetisation has come full circle: P Chidambaram as Rs 2,000 notes withdrawn
1 year, 7 months ago

Demonetisation has come full circle: P Chidambaram as Rs 2,000 notes withdrawn

India Today  

Reacting to the RBI withdrawing the Rs 2,000 currency notes from circulation, former Finance Minister P Chidambaram on Friday said the demonitisation of 2016 has come a full circle as he predicted that Rs 1,000 notes may soon come back. We said this in November 2016 and we have been proved correct The Rs 2000 note was a band-aid toâ€æ …

RBI to withdraw Rs 2,000 currency note from circulation but it will continue to be legal tender
1 year, 7 months ago

RBI to withdraw Rs 2,000 currency note from circulation but it will continue to be legal tender

India TV News  

Reserve Bank of India on Friday said it will withdraw Rs 2000 currency note from circulation. RBI advised banks to stop issuing Rs 2000 denomination banknotes with immediate effect though banknotes in Rs 2,000 denomination. The Reserve Bank of India on Friday announced withdrawal of Rs 2,000 currency notes from circulation, and existing notes in circulation can either be deposited …

Over 8000 crores assets seized in IT raids in 8 years: Govt in Lok Sabha
1 year, 9 months ago

Over 8000 crores assets seized in IT raids in 8 years: Govt in Lok Sabha

Op India  

On Monday, March 20, the Government of India told the Lok Sabha that the Income Tax department has seized total assets worth Rs 8832.92 crores in the search and seizure action conducted by it in the last eight financial years, i.e from 2014-2015 to 2021-2022. The state minister for finance further asserted that tax demand of a total of Rs …

India top court says demonetisation was legal, victims disagree
2 years ago

India top court says demonetisation was legal, victims disagree

Al Jazeera  

Tens of people reportedly died after Modi’s shock move to ban currency notes. “Bahut bheed-bhaad hoti thi,” Khan’s wife Khushnuma Begum told Al Jazeera, explaining the hardships as desperate people jostled with each other, often sparking off fights and disputes, in the long queues outside banks and ATMs. The Supreme Court of India, hearing 58 petitions challenging the Modi government’s …

Discussion In Parliament On Demonetisation Would Have Given It Legitimacy : Justice BV Nagarathna
2 years ago

Discussion In Parliament On Demonetisation Would Have Given It Legitimacy : Justice BV Nagarathna

Live Law  

Supreme Court judge Justice BV Nagarathna, who penned a dissenting judgment to declare the 2016 demonetisation as illegal, opined that the Central Government could not have demonetised the whole series of bank notes of Rs.500 and Rs.1000 through a mere executive notification. "Such demonetisation of currency notes at the instance of the Central Government cannot be by the issuance of …

RBI Didn't Independently Apply Its Mind In Recommending Demonetisation, Entire Exercise Carried Out In 24 Hours : Justice BV Nagarathna
2 years ago

RBI Didn't Independently Apply Its Mind In Recommending Demonetisation, Entire Exercise Carried Out In 24 Hours : Justice BV Nagarathna

Live Law  

In her dissenting judgment in the pleas challenging demonetisation, Supreme Court judge Justice BV Nagarathna observed that there was no independent application of mind by the Reserve Bank of India in recommending the cancellation of entire Rs.500 and Rs.1000 notes as proposed by the Central Government.Justice Nagarathna formed this opinion after referring to the records relating to the. In her …

Whether Demonetisation Achieved Its Objects Is Not Relevant To Decide Its Legality : Supreme Court
2 years ago

Whether Demonetisation Achieved Its Objects Is Not Relevant To Decide Its Legality : Supreme Court

Live Law  

While upholding the demonetisation of Rs 500 and Rs 1000 currency notes carried out by the Central Government in 2016, the Supreme Court observed that the question whether the measure has achieved its objects is not relevant while deciding its legality.A Constitution Bench comprising 5 judges upheld the demonetisation exercise as valid by a 4:1 majority, with Justice BV Nagarathna …

Demonetisation had to be done through legislation: Justice Nagarathna
2 years ago

Demonetisation had to be done through legislation: Justice Nagarathna

Deccan Chronicle  

New Delhi: Justice B V Nagarathna of the Supreme Court, who gave a dissenting verdict on demonetisation on Monday, said the scrapping of the whole series of Rs 500 and Rs 1,000 currency notes had to be done through a legislation and not through a gazette notification as Parliament cannot be left aloof in a matter of such critical importance. …

BJP MP Sushil Modi on why ₹2,000 currency note should be phased out
2 years, 1 month ago

BJP MP Sushil Modi on why ₹2,000 currency note should be phased out

Hindustan Times  

Claiming that ₹2,000 currency note is being used for terror funding, drug trafficking and hoarding black money, Bharatiya Janata Party Rajya Sabha MP Sushil Kumar Modi on Monday demanded its gradual phase out. "While the ₹2,000 currency note was introduced by the RBI to replace the demonetised ₹500 and ₹1000 notes at a faster pace in 2016, their printing has …

'RBI stopped printing Rs 2,000 notes 3 years back, Centre should ban it in phased manner': Sushil Modi
2 years, 1 month ago

'RBI stopped printing Rs 2,000 notes 3 years back, Centre should ban it in phased manner': Sushil Modi

India TV News  

Rs 2,000 currency notes news: BJP leader Sushil Modi has issued a new statement on Rs 2000 notes that could ignite fresh debates in the country. The BJP MP from Bihar said that the Reserve Bank of India stopped printing the Rs 2,000 currency notes 3 years back as there is that it's being used for terror funding, drug trafficking, …

‘For our satisfaction’: SC orders Centre, RBI to produce demonatisation files
2 years, 1 month ago

‘For our satisfaction’: SC orders Centre, RBI to produce demonatisation files

Hindustan Times  

The Supreme Court on Wednesday directed the ministry of finance and the Reserve Bank of India to produce files pertaining to the government’s November 2016 decision to outlaw currency notes of ₹500 and ₹1,000. The bench also told the government’s top law officer Attorney General R Venkatramani that it wanted to examine the “relevant records” of RBI and Centre. Chidambaram …

Supreme Court directs Centre, RBI to submit records behind demonetisation decision
2 years, 1 month ago

Supreme Court directs Centre, RBI to submit records behind demonetisation decision

The Hindu  

The Supreme Court on December 7 directed the Centre and the RBI to place on record the “relevant records” relating to the government’s 2016 decision to demonetise currency notes of ₹1,000 and ₹500 denomination for its perusal. Reserving its verdict on a batch of pleas challenging the Centre’s decision, a five-judge Constitution Bench headed by Justice S.A. Nazeer heard the …

SC directs Centre, RBI to put on record relevant records relating to demonetisation
2 years, 1 month ago

SC directs Centre, RBI to put on record relevant records relating to demonetisation

Deccan Chronicle  

New Delhi: The Supreme Court on Wednesday directed the Centre and the Reserve Bank of India to put on record relevant records relating to the government's 2016 decision to demonetise currency notes of Rs 1000 and Rs 500 denomination. Reserving its verdict on a batch of pleas challenging the Centre's 2016 decision, a five-judge constitution bench headed by Justice S …

Supreme Court directs Centre, RBI to produce records relating to 2016 demonetisation
2 years, 1 month ago

Supreme Court directs Centre, RBI to produce records relating to 2016 demonetisation

India TV News  

SC on demonetisation: The Supreme Court on Wednesday directed the Centre and the Reserve Bank of India to put on record relevant records relating to the government's 2016 decision to demonetise currency notes of Rs 1000 and Rs 500 denominations for its perusal. Reserving its verdict on a batch of pleas challenging the Centre's 2016 decision, a five-judge constitution bench …

RBI Should Consider Genuine Applications To Exchange Demonetised Notes Of Persons Who Missed Deadline, Says Supreme Court During Hearing
2 years, 1 month ago

RBI Should Consider Genuine Applications To Exchange Demonetised Notes Of Persons Who Missed Deadline, Says Supreme Court During Hearing

Live Law  

During the hearing of the pleas challenging demonetisation, the Supreme Court on Friday orally said that the Reserve Bank of India should consider the genuine applications made by persons who missed the deadline for exchanging the demonetised currency notes. Speaking about the "700 odd applications" received by the Reserve Bank to credit the value of demonetised notes after the expiry …

Currency in circulation now is almost double that in use just before demonetisation: Chidambaram
2 years, 1 month ago

Currency in circulation now is almost double that in use just before demonetisation: Chidambaram

The Hindu  

Reserve Bank of India figures show ₹32.18 lakh crore currency in circulation now in India, almost double the ₹17.97 lakh crore of currency in use just before demonetisation in November 2016, senior advocate P. Chidambaram submitted before a Constitution Bench on Thursday. Appearing before a five-judge Bench led by Justice S. Abdul Nazeer, Mr. Chidambaram was countering the government's argument …

Discover Related