Follow Us:
Thursday, May 19, 2022

Demonetisation appears to be carpet bombing, not surgical strike: Supreme Court

The hearing has been adjourned to November 25, and the court said that it will examine legal validity of the government notification and then take a decision.

By: Express Web Desk | New Delhi |
Updated: November 15, 2016 7:42:22 pm
demonetisation, supreme court, currency notes, narendra modi, old notes, 500 and 1000 note, SC petition demonetisation, SC hearing demonetisation The Supreme Court. (File Photo)

The Supreme Court on Tuesday directed the Central government to take steps to ensure that the common man was not burdened by its decision to discontinue old Rs 500 and 1000 notes. “Discontinuing of higher denomination notes appears to be carpet bombing and not surgical strike,” the bench said.

WATCH VIDEO: Demonetisation: Banks Provide New Rs 500 Notes

The Apex Court was hearing a clutch of petitions demanding the roll back of the government’s decision to scrap the old notes. The bench asked the government to file an affidavit to justify its notification and the steps it has taken to ensure people have enough liquidity. Refusing to stay the government’s move for the time being, the court said that it will examine the legal validity of the notification and then take a decision. The bench also said that not everyone who had Rs 500 and 1000 notes “can be painted as a black money hoarder”.

Attorney General Mukul Rohatgi informed the bench that Rs 3.25 lakh crore were deposited in the banks since November 10 and Rs 11 lakh crore would be added in the next few days. The hearing has been adjourned to November 25.

Best of Express Premium

Inflation up, FMCG firms hike rates, cut pack volume and weightPremium
Explained: Lucknow’s Laxman connection, and a large mosque built in...Premium
‘Pigeon closes eyes as cat advances’: 1991 Lok Sabha, when Um...Premium
How Girish Karnad’s iconic plays have redefined Indian theatrePremium

WATCH VIDEO: India Queues Up Outside ATMs

Meanwhile, Economics Affairs Secretary Shaktikanta Das addressed the media on Tuesday and said banks will be using indelible ink to track unscrupulous people who are making multiple visits to the bank counters.


For all the latest Business News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard