NEW DELHI: A BJP leader moved a plea before the Delhi High Court against the recent notifications issued by Reserve Bank of India and State Bank of India permitting exchange of Rs 2,000 currency notes without obtaining any identity proof and requisition slip.
Advocate Ashwini Kumar Upadhyay contended that notifications by RBI and SBI in this regard are arbitrary, irrational and offend Articles 14 of the Constitution of India. The petitioner also sought direction to RBI and SBI to ensure that Rs 2,000 banknotes are deposited in respective bank accounts so that no one could deposit the money in others’ bank accounts and people having black money and disproportionate assets could be identified easily.
Upadhyay pleaded the court to direct the Centre to take appropriate steps against the black money and disproportionate asset holders in order to weed out corruption, benami transaction and secure the fundamental rights of citizens.
The plea added that “according to the RBI total value of Rs 2,000 banknotes in circulation has declined from Rs 6.73 lakh crore to Rs 3.62 lakh crore, out of which 3.11 lakh crore has been reached either in individual’s locker otherwise has been hoarded by the separatists, terrorists, Maoists, mining mafias and corrupt people.”
On May 19, the RBI announced the withdrawal of Rs 2,000 currency notes from circulation, and said existing notes in circulation can either be deposited in bank accounts or exchanged by
September 30.
The bank notes in Rs 2,000 denomination will continue to be a legal tender, the RBI said in a statement.
In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, the RBI said exchange of Rs 2,000 bank notes into bank notes of other denominations can be made up to a limit of Rs 20,000 at a time at any bank starting from May 23.