Demonetisation: SC asks govt whether a window can be provided to deposit banned Rs 500, Rs 1000 notes

New Delhi: The Supreme Court on Tuesday granted 2-week time to the Centre and the RBI to mull over option to provide window to those who could not deposit demonetised notes due to valid reasons.
The central government, on its part, told division bench of Supreme Court that it would file an affidavit in the case. The matter will be heard again in the Supreme Court on July 18.
Earlier, the Centre, in its affidavit, had told the apex court that it has taken a “conscious decision” not to extend the period beyond December 30 last year for exchanging demonetised currency notes unlike for the NRIs, and security personnel posted in remote areas, which ended on March 31.
Demonetisation: Govt allows banks, post offices to deposit old bank notes with RBI
The government has also said it was not legally bound to come out with a fresh notification to grant grace period or window for depositing scrapped currency notes.
The affidavit has given details about the raids and seizures made by the law-enforcing agencies during and after the demonetisation period claiming that undisclosed income of over Rs 5,400 crore was detected.
The apex court had on March 6 issued notice to the Centre and the RBI on one of the pleas alleging that people were not being allowed to deposit demonetised currency notes till March 31 as promised.
One of the petitions also referred to the speech of the prime minister on November 8, 2016 and subsequent notification of the RBI spelling out that people may deposit demonetised currency notes even after December 31, 2016 at specific RBI branches up to March 31, 2017 after complying with certain procedural requirements.
It has referred to the Specified Bank Notes Cessation of Liabilities Ordinance and said it had gone against the assurance.
The ordinance had said that only those who were abroad, the armed forces personnel posted in remote areas or others who could give valid reasons for not being able to deposit the cancelled notes at banks, could deposit demonetised currency notes of Rs 500 and Rs 1,000 till March 31 this year after the deadline expired on December 30, 2016.

Leave a Reply

Your email address will not be published. Required fields are marked *