Why bar a person from depositing?demonetised notes? Supreme Court to government
The government had on November 8 last year announced that Rs 500 and Rs 1,000 notes would no longer be legal tender. Photograph: (ANI)
India's top court has given the Indian government and the central bank another two weeks to consider the option to grant a window to those who want to exchange their demonetised Rs 500 and Rs 1,000 notes.
Prime Minister Modi had announced on November 8 that Rs 500 and Rs 1,000 notes would no longer be a legal tender.
The government had then assured the people that demonetised currency notes could be exchanged at banks, post offices and RBI branches till December 30, 2016 and if for some reason people were unable to deposit it till then, they could do so untill March 31, 2017 at RBI branches.
The Supreme Court Bench while hearing case said, "There can be a situation where a person has lost his/her money for no fault. Suppose a person was in jail during the period... We want to know as to why you chose to bar such persons."
India's solicitor general Ranjit Kumar has sought time to seek instructions from the government to give people another window to deposit their money on a case-by-case basis.