Jammu and Kashmir News Report
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

UP will have new power to create waterways

Admin

UPI transaction timer Value of Rs 17.4 trillion for November shows a 1.4 percent increase

SSMB29: Will Hollywood A-Listers Appear in SS Rajamouli and Mahesh Babu’s Film? What We Know Is This

Now, paid users on X may keep their Likes tab hidden from the public

India’s foreign exchange reserves increased by $1.8 billion to $595 billion in the last forex update

UK eliminates countervailing duties on imports of Indian steel bars and rod