Himachal Pradesh News Flash
Buisness

PIL filed in Delhi High Court against RBI, SBI allowing exchange of Rs. 2,000 notes without identification verification

A petition contesting announcements from the Reserve Bank of India (RBI) and State Bank of India (SBI), which allow the exchange of currency without requiring confirmation of identification, has been filed with the Delhi High Court.
BJP leader and attorney Ashwini Upadhyay launched the Public Interest Litigation (PIL).
The notifications, which were released on May 19 and 20, are arbitrary, according to the PIL, and they violate Article 14 of the Indian Constitution.
The petition further requests that the RBI and SBI be instructed to ensure that only Rs 2000 notes be deposited in their respective bank accounts, in order to identify individuals with hidden assets and black money.
The PIL, which names the RBI, SBI, and Union Ministries of Home Affairs and Finance as respondents, requests a directive to the Centre to act in order to eradicate corruption, benami transactions, and safeguard individuals' basic rights.
“The Center recently declared that every household has an Aadhaar card and a bank account. Therefore, it is unclear why the RBI allows the exchange of Rs. 2000 banknotes without requiring identification. It is also important to note that free grains are provided to 80 crore BPL households. It implies that 80 billion Indians seldom ever utilize Rs. 2,000 bills. As a result, the petitioner further requests that the RBI and SBI be instructed to take action to guarantee that only bank accounts are used to deposit Rs 2000 banknotes, according to the argument.

Related posts

How should triple seating effect the fuel efficiency of your Royal Enfield 350 CC?

In February, FPIs Infuse More Than Rs 15,000 Crore Into the Debt Market

US credit rating might soon drop from its current AAA status

Direct tax revenue increases 15.73% to Rs 6.53 billion

Good news for air travelers! jetwings airways aircraft will take off soon

India’s economy continues to grow at the fastest rate; see the UN report in 10 points