Top court raps Indian govt for demonetisation, remonetisation chaos

In photo: A bank staff member counts Indian 500 rupee notes to give to customers on November 24, 2016, Photograph:( AFP )

Delhi, India Dec 15, 2016, 02.48 PM (IST)

India's highest court chastised the federal government for ineffective implementation of its demonetisation policy.

The Supreme Court asked the government how the rich were getting caught with large amounts of money while the ordinary people were struggling to get even Rs 24,000.

“People are not getting even ?24,000 per week. Then how come some people have got lakhs of new currency? It seems that there are two kinds of people, one who have plenty of new notes and others who have nothing,” the Chief Justice of India TS Thakur asked AG Rohatgi, the Attorney General for India.

The apex court said the banks should not deny minimum weekly withdrawal of Rs 24,000 per week per account and asked to reduce the citizens' inconvenience due to demonetisation.

The apex court on December 9 also asked the government if the decision made by it was constitutional.

Ever since the Narendra Modi administration announced the replacement of old currency notes on November 8, people have been allowed to withdraw not more than Rs 24,000 per week.

Rohatgi alleged that some bank managers were involved in illegal activities but the government was acting against the culprits. He assured that the government was working around-the-clock to smoothen the creases and blamed corrupt bank managers for putting a spanner in the works.

(WION with inputs from agencies)