The demonetisation exercise which put an end to the old currency notes is a big decision taken by the Indian government led by the Bharatiya Janata Party. Though the government said the decision was taken to root out the black money, the common man faced many issues due to the lack of availability in cash.
Many questioned why they have to wait in long queues to take their own money. Besides this, there is also a strong criticism that there might be huge irregularities in the translation of old notes to the new notes introduced by the Indian government. The issue now reached the Supreme Court.
A Constitution bench of the Supreme Court reportedly said that it will examine the petition. Having said that, it served notice to the Indian government and Reserve Bank of India in this regard. Based on their response, the hearing would take place.
In the petition, the petitioners listed the issues they faced with the practice and their livelihoods were affected by this. Responding to this, the Supreme Court reportedly said it knows its jurisdiction, but it will hear the petition.
It has to be mentioned here that, there are a few limits to the courts in certain matters and the courts have to maintain that. Demonetisation might fall under the list and we have to wait and see how the court will examine the issue by staying within its limit.
Keeping aside the motive behind bringing demonetisation, the whole nation came to a standstill with the decision, and people waited in long queues to withdraw money. On top of this, there was a limit on the money that can be withdrawn from the accounts.
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Many questioned why they have to wait in long queues to take their own money. Besides this, there is also a strong criticism that there might be huge irregularities in the translation of old notes to the new notes introduced by the Indian government. The issue now reached the Supreme Court.
A Constitution bench of the Supreme Court reportedly said that it will examine the petition. Having said that, it served notice to the Indian government and Reserve Bank of India in this regard. Based on their response, the hearing would take place.
In the petition, the petitioners listed the issues they faced with the practice and their livelihoods were affected by this. Responding to this, the Supreme Court reportedly said it knows its jurisdiction, but it will hear the petition.
It has to be mentioned here that, there are a few limits to the courts in certain matters and the courts have to maintain that. Demonetisation might fall under the list and we have to wait and see how the court will examine the issue by staying within its limit.
Keeping aside the motive behind bringing demonetisation, the whole nation came to a standstill with the decision, and people waited in long queues to withdraw money. On top of this, there was a limit on the money that can be withdrawn from the accounts.
Note: Your feedback is very important to us. Post them in the comments box down below. Be sure to give us your opinion no matter what. Please do not use abusive language. There are better ways to speak your mind.