December 16, 2016 3:56 AM

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Centre should adhere to allow withdrawal limit after demonetisation: SC

<br/>'The Supreme Court today said that the Centre should adhere to its notification allowing withdrawal of 24,000 rupees per week from bank accounts after demonetisation of high-value currency notes. <br/>A three-judge bench headed by Chief Justice T S Thakur observed after senior advocate Kapil Sibal, appearing for a petitioner who has challenged demonetisation move, said that people don't have cash due to which they are facing hardships. The bench, also comprising Justices A M Khanwilkar and D Y Chandrachud said that people are depositing money in large number and they should be given the currency.<br/>' The bench told Attorney General Mukul Rohatgi that it understands the problem of shortage of currency but the Government ought to have some norms. Mr Rohatgi said 13 lakh crore rupees have come in the banks so far. The Attorney General also said that new currency notes of value of five lakh crore rupees is in circulation in the market and besides this, 2.5 lakh crore rupees in smaller denominations of 100 and 50 rupees was already there. The apex court is hearing a batch of petitions challenging the demonitisation move of the government. The Centre has also filed a plea seeking transfer of all the matters pending before separate high courts in the country to either the apex court or one of the high courts.<br/><br/>

December 16, 2016 3:52 AM

printer

Centre should adhere to allow withdrawal limit after demonetisation: SC

<br/><br/>'The Supreme Court today said that the Centre should adhere to its notification allowing withdrawal of 24,000 rupees per week from bank accounts after demonetisation of high-value currency notes. <br/>A three-judge bench headed by Chief Justice T S Thakur observed after senior advocate Kapil Sibal, appearing for a petitioner who has challenged demonetisation move, said that people don't have cash due to which they are facing hardships. The bench, also comprising Justices A M Khanwilkar and D Y Chandrachud said that people are depositing money in large number and they should be given the currency.<br/>' The bench told Attorney General Mukul Rohatgi that it understands the problem of shortage of currency but the Government ought to have some norms. Mr Rohatgi said 13 lakh crore rupees have come in the banks so far. The Attorney General also said that new currency notes of value of five lakh crore rupees is in circulation in the market and besides this, 2.5 lakh crore rupees in smaller denominations of 100 and 50 rupees was already there. The apex court is hearing a batch of petitions challenging the demonitisation move of the government. The Centre has also filed a plea seeking transfer of all the matters pending before separate high courts in the country to either the apex court or one of the high courts.<br/>

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