DelhiDesk: The Indian High Court has rejected a petition calling for the withdrawal of INR 2,000 ($31) notes from circulation. Petitioner Ashwani Kumar Upadhyay claimed that large amounts of the notes were in the hands of separatists, terrorists, drug smugglers and corrupt individuals, and that the move to introduce the notes was “arbitrary” and unconstitutional. The Reserve Bank of India argued that the introduction of the notes was part of currency management and not demonetisation.
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Here is the news bullets sorted by DelhiBreakings.com team.
👉 Not ban, part of currency management
👉 Large amount of notes with illegal entities
👉 Petitioner claims notification violates Constitution
👉 RBI defends notification as statutory action
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