RBI informs Delhi HC that withdrawal of Rs 2,000 denomination bank notes was a currency management exercise

The RBI on Friday informed the Delhi High Court that the withdrawal of 2,000 rupees denomination banknotes from circulation was a currency management exercise and a matter of economic policy. The court, which was hearing a public interest litigation challenging the RBI's decision to withdraw the banknote from circulation, posted the matter for hearing on Monday (May 29). A bench headed by Chief Justice Satish Chandra Sharma was asked by the RBI to defer hearing on the plea in light of t...