More time to deposit old notes?
Posted on: 18/Jul/2017 12:18:40 PM
In its note on Monday, the Supreme Court has stated that providing extra time to deposit old rupee notes will battle the aim of demonetization to eradicate black money.
In June, the apex court made a note that people who could not get an opportunity to exchange old notes because of reasons such as imprisonment cannot be deprived of a chance. So, the centre and RBI were set to come up with a final call in this regard within 2 weeks. It has thus pleaded to the government to consider creating new ways for such people who come up with genuine reasons for not being able to deposit scrapped notes.
The various kinds of citizens are clubbed together in this regard. Women who had pregnancy delivery due during demonetization, and another one who was combating a family member’s death were included.
For all the genuine individuals who could not deposit due to varied reasons, an opportunity should be given. It is their money and there is no right to take their money away, said the Chief Justice of India, JS Khehar during the recent hearing on 5th July.
In 2016, Prime Minister Narendra Modi announced demonetization of Rs 500 and Rs 1000 notes with the last date to exchange as 31st December.
