November 25, 2016 10:37 AM

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SC to hear plea on allowing TN-based co-op society to accept old notes

The Supreme Court will hear today a plea seeking a direction to the Centre and Reserve Bank that a Tamil Nadu-based co-operative society be allowed to accept old demonetized notes and permit withdrawals. <br/><br/>The bench yesterday listed the plea for hearing today, when the counsel said it was an urgent matter as the member of the co-operative society has not been able to withdraw and deposit the money. <br/><br/>The plea said, the co-operative society has been accepting deposits and has been maintaining locker facilities.<br/><br/>It has sought an appropriate direction to respondents including the Centre and the RBI to implement the regulation issued on the 8th of this month, which permitted financial institutions to pay to their customers having an account with them.

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