SC questions Centre & RBI: Why people are not being allowed deposite old notes despite 31 March promise?

March,6,2017:

Notification of RBI provided that people may deposit demonetised currency notes at specific RBI Branches up to March 31, 2017.

On Monday, the Apex Court sought response from Centre & RBI on a plea alleging that people weren't being allowed to deposit demonetized currency notes till 31st March as promised.

A bench headed by Chief Justice of India JS Khehar said, "Issue notice returnable by Friday," & asked the petitioner Sharad Mishra to serve copy of its notice to the Centre & the RBI during the course of the day.

This plea referred to the speech of PM Narendra Modi on 8th November, 2016 & subsequent notification of RBI spelling out that people may deposit demonetized currency notes even after 31st December, 2016 at specific RBI branches up to 31st March, 2017 after complying with certain procedural requirements.

The bench also comprising Justice DY Chandrachud and Justice SK Kaul, considered the argument that the Reserve Bank of India's last ordinance, which permits only those people who were outside India during the stipulated period to deposit the demonetized currency notes till 31st March, is a breach of assurances given by the Prime Minister of India and the Reserve Bank of India.

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