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    Vikshita Vitthal Gujaran in News

    17-Nov-2022 05:12 AM


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    Notes Ban Enforced After "Extensive Talks With RBI": Centre To Court

    Centre had demonetised Rs 1,000 and Rs 500 denomination currency notes on November 8, 2016 The 2016 demonetisation 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, the Union government has told the Supreme Court.
    The submissions were made in an affidavit filed in response to a batch of pleas challenging the Centre's 2016 demonetisation decision.
    A five-judge constitution bench comprising Justices S A Nazeer, B R Gavai, A S Bopanna, V Ramasubramanian, and B V Nagarathna is hearing the issue and is slated to take up the matter on November 24.
    The Union government submitted the decision of demonetisation was executed on the specific recommendation of the Central Board of the Reserve Bank of India and the RBI had also proposed a draft scheme for the implementation of the recommendation.

    Source - NDTV

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