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PIL in Delhi High Court against decision to replace 2000 notes

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Exchange of Rs 2000 notes has started from May 23. People are going to banks to exchange Rs 2000 notes. Meanwhile, by RBI Rs. A PIL has been filed in the Delhi High Court against the introduction of 2,000 notes. In which the notification issued by the RBI on May 19 has been sought to be quashed.

In this PIL, the banks have also demanded to pay Rs 500 more as compensation to the people who come to change the notes. This application has been filed by advocate Rajnish Bhaskar Gupta.

Petitioner Rajnish Gupta has presented several arguments in the petition. He said that the RBI has no independent power to demonetize any denomination under the Reserve Bank of India Act, 1934. Under Section 24(2) of the RBI Act, 1934, this power rests only with the Central Government.

RBI without comprehensively analyzing the anticipated problems of public Rs. No rationale other than clean policy has been given for taking such a highly arbitrary decision to withdraw the 2000 notes. In clean net policy only damaged, fake or bad notes are returned and not good notes.

The petition further stated that the people of the country are being forced to go to the bank to exchange their 2000 rupee notes without any error. The petition has demanded that people who quit their jobs and stand in queues for hours at banks to exchange notes, be given Rs 500 more as compensation.