Notes Ban: Problem Is Serious, We Will Have Riots, Says Supreme Court

NEW DELHI: For the second time in a week, the centre faced tough questions on the notes ban from the Supreme Court, which remarked: “We will have riots on the streets.”

Chief Justice of India TS Thakur, referring to petitions challenging the sudden ban on Rs. 500 and Rs. 1,000 notes last week, said the problem is very serious.

“You have scrapped 500 and 1,000, but what happened to the 100 rupee note?” the Chief Justice asked the government, which replied that ATMs needed to be recalibrated because they have a single drawer for Rs. 100 notes.

The court had more questions.
“The last time you said you are working out relief but you have reduced the withdrawal amount to 2,000. What’s the problem? Is it printing problem?” Justice Thakur asked the government.

The government earlier this week reduced the Rs. 4,500 limit for the exchange of notes at banks to Rs. 2,000, saying it would enable more people to get cash.

The government’s top lawyer said: “Not only printing… it has to be transported to lakhs of branches across the country and ATMs have to re-calibrated. We have given relief to farmers, wedding and small traders.”

Comments
Facebooktwittergoogle_plusredditpinterestlinkedinmail

Leave a Reply

Facebook