News

Demonetisation appears to be carpet bombing, not surgical strike: SC to Central Govt

india-rupee-reuters759

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.

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.

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.

Source: Indian Express

Legal Desire

Legal Desire

The One Stop Destination for Law providing Latest News, Notifications, Career Updates, Study Materials, Courses on Law & More.
Legal Desire
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

The One Stop Destination for Law

A Venture of India of Dreams Foundation

Contact us

Have Something to Share:
Submit Content, Press Releases to info@legaldesire.com
For Media Partner/Adverts Proposals, write to anuj@legaldesire.com

Subscribe to our Newsletter

Copyright © 2016 Legal Desire Media & Publications

To Top

Demonetisation appears to be carpet bomb…

by Legal Desire time to read: 1 min
0

Get your Daily Dose of Legal Pulse

Subscribe to Legal Desire Daily Email Newsletter

Get Daily Latest Legal News & Notifications about happenings delivered to you via Email in Morning.

Get your Daily Dose of Legal Pulse

Subscribe to Legal Desire Daily Email Newsletter

Get Daily Latest Legal News & Notifications about happenings delivered to you via Email in Morning.

Read previous post:
Tokyo: Prime Minister Narendra Modi with Japanese Prime Minister Shinzo Abe inspecting a guard of honour during his ceremonial welcome in Tokyo on Friday. PTI Photo by Shirish Shete   (PTI11_11_2016_000084A)
While India is exchanging Notes, PM Modi signed landmark civil nuclear deal with Japan

While whole nation is exchanging notes of 500 & 100, PM Modi has done another landmark action. Japan and India...

Close