**Delhi High Court to pronounce order on PIL against withdrawal of ₹2,000 notes**
– The Delhi High Court is expected to announce its decision on a public interest litigation (PIL) challenging the Reserve Bank of India’s (RBI) decision to withdraw ₹2,000 denomination banknotes from circulation.
– The PIL was filed by Rajneesh Bhaskar Gupta, who argues that only the central government has the authority to take such a decision, not the RBI.
– The petitioner claims that the RBI does not have independent power to discontinue banknotes and that this power lies with the central government.
– The RBI defended its decision, stating that the withdrawal of ₹2,000 notes is a currency management exercise and an economic policy matter.
– The high court had previously dismissed a similar plea, stating that the RBI’s decision was not arbitrary and aimed to avoid inconvenience to citizens.
– The petitioner argues that the RBI has not provided a sufficient reason for withdrawing the ₹2,000 denomination banknotes without considering the expected problems faced by the public.
– The RBI announced the withdrawal of ₹2,000 currency notes on May 19, stating that existing notes can be deposited or exchanged until September 30.
– Banks are facilitating the exchange of ₹2,000 notes for other denominations up to a limit of ₹20,000 at a time.
– The State Bank of India has also allowed the exchange of ₹2,000 notes without obtaining a requisition slip or identity proof.
– The high court’s decision on the PIL is expected to provide clarity on the legality of the RBI’s decision to withdraw ₹2,000 banknotes from circulation.
(Source: Live Mint)
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