Demonetisation: Supreme Court approves demonetisation, dismisses petition; told the verdict
THE NEWZ OF NATION
UPDATED 02/JANUARY/2023
HIGHLIGHT
.Supreme Court's big decision on demonetization
.Central government's decision justified
.Central government had talks with RBI
new Delhi:
Supreme Court upholds the decision of the Central government taken in 2016 to denomination of Currency Notes: The Supreme Court has upheld the decision of the Central Government of demonetization. The Supreme Court has dismissed all the petitions filed against demonetization. With this, the demonetization controversy has come to an end completely. The Supreme Court said that there is no reason to reverse the note ban decision of the Central Government, in such a situation this decision cannot be reversed. The Supreme Court said that the central government had discussed with all the important departments before demonetization. And this decision was announced only after taking the green signal. Let us inform that in the year 2016, Prime Minister Narendra Modi had announced that from now inwards the validity of currency notes of 500 and 1000 is being abolished. Some time was also given to deposit it in the banks.
The government followed the correct procedure during demonetisation
The Constitutional Bench of the Supreme Court heard the matter. The Supreme Court said that there was a consultation between the Center and the RBI before demonetization. The correct method was also adopted for taking such decisions. Demonstration was not the decision of any one. The Supreme Court said that the RBI does not have the right to demonetize. Only the central government can do this. For this consultation was done with RBI. After this, the Supreme Court dismissed all the petitions challenging the decision of demonetization and put an end to the entire controversy.
PM Narendra Modi announced demonetisation
Let us tell you that on November 8, 2016, at eight o'clock, Prime Minister Narendra Modi had announced that the central government has decided to demonetise. After which 500 and 1000 notes will no longer be legal tender. The government had also given time to deposit the old notes in the banks. The central government had made this decision necessary for the elimination of black money. After this, the central government had printed new notes of 2000 and 500. Since there was a huge shortage of liquid currency in the country at that time, in order to maintain the liquidity of the currency, the central government had issued 2000 notes. Whose official trend is still there. Although now the printing of new notes of 2000 has been stopped unofficially in the country.
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