Connect with us

india

PIL Raises Over Exchange of Rs 2000 Notes Without Requisition Slip and Identity Proof

a public interest litigation (PIL) was filed in the Delhi High Court on Monday, challenging the permission to exchange Rs 2000 banknotes without the requirement of a requisition slip and identity proof.

Published

on

PIL Raises Over Exchange of Rs 2000 Notes Without Requisition Slip and Identity Proof
(Representational Image)

New Delhi: a public interest litigation (PIL) was filed in the Delhi High Court on Monday, challenging the permission to exchange Rs 2000 banknotes without the requirement of a requisition slip and identity proof. The petitioner, lawyer Ashwini Kumar Upadhyay, argued that the notifications issued by the Reserve Bank of India (RBI) and the State Bank of India (SBI) in this regard are arbitrary, irrational, and infringe upon Articles 14 of the Constitution of India.

According to the plea, a significant amount of currency in the form of Rs 2000 banknotes has either found its way into individual lockers or been hoarded by various groups, including separatists, terrorists, Maoists, drug smugglers, mining mafias, and corrupt individuals. The petition emphasized that cash transactions involving high-value currency are the primary source of corruption and are often utilized for illicit activities such as terrorism, naxalism, separatism, radicalism, gambling, smuggling, money laundering, kidnapping, extortion, bribery, and dowry-related transactions. The petitioner urged the RBI and SBI to ensure that Rs 2000 banknotes are deposited only in respective bank accounts, thereby minimizing the risks associated with illegal activities.

The plea further highlighted the recent announcement by the central government, stating that every family should possess an Aadhaar card and a bank account. In light of this, the petitioner questioned the rationale behind permitting the exchange of Rs 2000 banknotes without obtaining proper identity proof. Additionally, the plea noted that approximately 80 crore (800 million) below poverty line (BPL) families receive free grains, indicating that they rarely use Rs 2000 banknotes. Therefore, the petitioner sought a directive to the RBI and SBI, urging them to take necessary measures to ensure that Rs 2000 banknotes are deposited exclusively in bank accounts.

The PIL argued that depositing Rs 2000 currency notes in bank accounts would facilitate the identification of individuals possessing black money and disproportionate assets. This measure could potentially assist in curbing corruption and enforcing financial transparency.

On May 19, the RBI had announced the withdrawal of Rs 2000 currency notes from circulation, specifying that existing notes could either be deposited in bank accounts or exchanged by September 30. The RBI clarified that the Rs 2000 banknotes would continue to be recognized as legal tender.

To facilitate convenience and prevent any disruption to regular banking activities, the RBI announced that starting from May 23, the exchange of Rs 2000 banknotes into other denominations would be permitted up to a limit of Rs 20,000 at a time in any bank.

In a communication to the chief general managers of its local head offices, the State Bank of India (SBI) confirmed that the public could exchange Rs 2000 notes up to a limit of Rs 20,000 at a time without the requirement of a requisition slip. The communication, dated May 20, also mentioned that no identity proof would be necessary during the exchange process.

The PIL raises important concerns regarding the exchange of Rs 2000 banknotes and emphasizes the need to address potential avenues for corruption and illegal activities. The outcome of the litigation will likely impact the regulations surrounding the exchange of high-value currency in India.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

india

PM Modi Criticizes UN, Calls for Global Reforms on Lex Fridman Podcast

In a recent interview on the Lex Fridman Podcast, Indian Prime Minister Narendra Modi expressed strong criticisms of the United Nations and similar international organizations, labeling them as “almost irrelevant” in addressing contemporary global challenges. During the extensive conversation, Modi highlighted the inadequacies of these institutions in effectively managing escalating global conflicts, such as ongoing […]

Published

on

PM Modi Criticizes UN, Calls for Global Reforms on Lex Fridman Podcast
PM Modi during a podcast of Lex Fridman, in New Delhi | Image Kind Courtesy (ANI)

In a recent interview on the Lex Fridman Podcast, Indian Prime Minister Narendra Modi expressed strong criticisms of the United Nations and similar international organizations, labeling them as “almost irrelevant” in addressing contemporary global challenges.

During the extensive conversation, Modi highlighted the inadequacies of these institutions in effectively managing escalating global conflicts, such as ongoing wars in the Middle East and rising tensions between major powers like the United States and China.

Reflecting on the COVID-19 pandemic, Modi pointed out how the crisis exposed the limitations of individual nations and underscored the necessity for global unity and cooperation. He emphasized that the pandemic revealed significant gaps in the current international framework, calling for comprehensive reforms to enhance the efficacy of global governance.

This interview marks Modi’s second appearance on a podcast, following his earlier participation in Zerodha founder Nikhil Kamath’s “People by WTF” series. The Prime Minister’s engagement with modern digital platforms reflects his administration’s efforts to connect with a broader audience and address pressing global issues through contemporary media channels.

The Lex Fridman Podcast, known for its in-depth discussions with prominent figures across various fields, provided a platform for Modi to share his perspectives on international relations, the role of global institutions, and the need for adaptive reforms to meet the demands of an evolving world order.

Modi’s candid remarks have sparked discussions worldwide, prompting debates on the relevance and effectiveness of international organizations in the face of current global challenges. His call for reform resonates with a growing sentiment that existing institutions must evolve to better serve the international community in addressing complex, interconnected issues.

Continue Reading

india

Maharashtra Leaders Call for Aurangzeb’s Tomb Removal Amid Legal Considerations

In recent developments, political figures in Maharashtra have advocated for the removal of Mughal emperor Aurangzeb’s tomb, situated in Khuldabad, Chhatrapati Sambhajinagar district. Udayanraje Bhosale, a descendant of Maratha king Chhatrapati Shivaji Maharaj and a Bharatiya Janata Party (BJP) Member of Parliament, labeled Aurangzeb a “thief and looter,” urging authorities to demolish the tomb.

Published

on

Maharashtra Leaders Call for Aurangzeb’s Tomb Removal Amid Legal Considerations
Image for representational purposes only

In recent developments, political figures in Maharashtra have advocated for the removal of Mughal emperor Aurangzeb’s tomb, situated in Khuldabad, Chhatrapati Sambhajinagar district. Udayanraje Bhosale, a descendant of Maratha king Chhatrapati Shivaji Maharaj and a Bharatiya Janata Party (BJP) Member of Parliament, labeled Aurangzeb a “thief and looter,” urging authorities to demolish the tomb.

Maharashtra CM also in favor of Aurangzeb’s Tomb Removal

Chief Minister Devendra Fadnavis echoed this sentiment, expressing support for the tomb’s removal but emphasizing adherence to legal protocols. He noted that the site is under the protection of the Archaeological Survey of India (ASI), a designation made during a previous Congress-led administration. Fadnavis stated, “We all also want the same thing, but you need to do it within the framework of the law, because it is a protected site.”

In response to these calls, Maharashtra police have heightened security measures around the tomb to prevent potential unrest. The site is now under increased surveillance, with visitors required to present identification and adhere to stricter protocols.

This controversy underscores ongoing debates about historical narratives and cultural heritage in India, reflecting the complexities of addressing historical figures’ legacies within contemporary society.

Continue Reading

Mangaluru

Karnataka’s Largest Drug Haul: MDMA Worth ₹75 Crore Seized in Major Crackdown

In a significant breakthrough, Karnataka police have confiscated a record-breaking consignment of MDMA valued at approximately ₹75 crore. This marks the state’s largest-ever drug seizure, showcasing law enforcement’s commitment to curbing illegal narcotics activities. Details of the Seizure During a well-coordinated operation, authorities intercepted the massive drug shipment in Karnataka’s coastal region. The contraband, identified […]

Published

on

Karnataka’s Largest Drug Haul: MDMA Worth ₹75 Crore Seized in Major Crackdown
Image by pexels-mart-production-7230226 (Representational purposes only)

In a significant breakthrough, Karnataka police have confiscated a record-breaking consignment of MDMA valued at approximately Rs.75 crore. This marks the state’s largest-ever drug seizure, showcasing law enforcement’s commitment to curbing illegal narcotics activities.

Details of the Seizure

During a well-coordinated operation, authorities intercepted the massive drug shipment in Karnataka’s coastal region. The contraband, identified as MDMA (commonly known as Ecstasy), was reportedly being smuggled into the state for distribution across major cities.

Investigation and Arrests

The police confirmed that multiple suspects have been arrested in connection with the bust. Investigators are working to uncover the broader network involved in the smuggling operation. Preliminary findings indicate that the seized drugs were intended to fuel illicit party scenes and underground markets.

Law Enforcement’s Vigilance

Authorities emphasized that this successful operation reflects their proactive approach to combat the rising threat of synthetic drug abuse. The police have intensified surveillance efforts in key regions identified as high-risk zones for drug trafficking.

Public Awareness and Safety

Officials urged the public to remain vigilant and report any suspicious activities. Awareness campaigns are being planned to educate youth about the dangers of MDMA consumption and its harmful effects on mental and physical health.

Future Measures

Karnataka’s police department is strengthening collaborations with national and international agencies to prevent drug smuggling at its roots. This record seizure serves as a stern warning to organized crime groups involved in illicit activities.

This remarkable achievement highlights Karnataka’s unwavering stance in tackling drug abuse and ensuring public safety across the state.

Continue Reading

Trending