Was demonetisation a mistake? Supreme Court to announce verdict on 2 January
2 years, 2 months ago

Was demonetisation a mistake? Supreme Court to announce verdict on 2 January

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A five-judge Constitution bench headed by Justice S A Nazeer is likely to pronounce its verdict on 2 January on a batch of pleas challenging the government’s 2016 decision to demonetise currency notes of Rs 1,000 and Rs 500 denominations New Delhi: The Supreme Court is scheduled to pronounce its judgment on 2 January on a batch of pleas challenging the government’s 2016 decision to demonetise currency notes of Rs 1,000 and Rs 500 denominations. The top court had, on 7 December, directed the Centre and the Reserve Bank of India to put on record the relevant records relating to the government’s 2016 decision and reserved its verdict. Resisting the apex court’s attempt to revisit the 2016 demonetisation exercise, the government had said the court cannot decide a matter when no tangible relief can be granted by way of “putting the clock back” and “unscrambling a scrambled egg”. In an affidavit, the Centre told the top court recently that the demonetisation exercise was a “well-considered” decision and part of a larger strategy to combat the menace of fake money, terror financing, black money and tax evasion.

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