Case of withdrawal of Rs 2000 notes reached High Court, petition filed in public interest


A PIL was filed in the Delhi High Court against the recently withdrawn Rs 2,000 notes being exchanged without the required form or identity proof. Advocate Ashwini Kumar Upadhyay argued in his petition that the notifications of Reserve Bank of India (RBI) and State Bank of India (SBI) in this regard are arbitrary, illogical and violate Article 14 of the Constitution of India.

Cash transactions in high denomination notes are the main source of corruption.

The petition states that a large number of notes have either reached people’s lockers or have been hoarded by separatists, terrorists, Maoists, drug traffickers, mining mafia and corrupt people. It states that cash transactions in high denomination notes are the main source of corruption and these notes are used in illegal activities like terrorism, naxalism, separatism, radicalism, gambling, smuggling, money laundering, kidnapping, extortion, bribery and dowry etc. goes. According to the petition, in view of this, RBI and SBI should ensure that Rs 2,000 notes are deposited only in the respective bank accounts.

80 crore families get free food grains

It has been said in the petition- Recently the Center had announced that every family should have an Aadhaar card and a bank account. Then why RBI is allowing 2,000 notes to be exchanged without ID proof. It is also necessary to mention that 80 crore families below the poverty line get free food grains. Therefore, the petitioner prays for a direction to RBI and SBI to take steps to ensure that Rs 2,000 notes are deposited only in bank accounts. It has been said that by depositing Rs 2,000 notes in bank accounts, those people who have black money and assets disproportionate to their known sources of income can be easily identified.

Announcement to withdraw Rs 2,000 notes from circulation

Significantly, on May 19, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 notes from circulation. The public has been given time till September 30 to deposit or exchange these notes in bank accounts. The State Bank of India (SBI) has written to the Chief General Managers of all its local head offices saying that common people need a form to exchange Rs 2,000 notes i.e. ten Rs 2,000 notes at a time up to a total of Rs 20,000. Will not happen. The bank said in a letter dated May 20 – there is no need to present any identity proof at the time of exchange.

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