SC Demonetisation Judgment: Supreme Court approves Government's decision on Demonetisation, details here- Watch Video

Publish Date: 02 Jan, 2023 |
 

SC Demonetisation Judgment: Modi government in 2016 implemented Demonetisation in the entire country, has been declared valid by the Supreme Court. Along with this, the court also dismissed all the 58 petitions in which the decision of demonetisation was challenged. Today, on Monday (January 2), 4 judges of the Supreme Court gave a majority verdict in this matter. 

What was Demonetisation?

In 2016, on November 8, the decision of demonetisation was taken by the Centre. Then the old notes of 1 thousand and 500 rupees were banned. Because of this step, 10 lakh crore rupees went out of circulation overnight. RBI issued new notes of 500 rupees, as well as notes of 2 thousand rupees, were also started for the first time. Due to the shortage of notes, people across the country had to stand in long queues at banks and ATMs. 

Verdict of SC

Today, the Supreme Court bench which has given its verdict on the petitions, apart from Justice SA Nazeer, includes other members such as Justices BR Gavai, BV Nagaratna, AS Bopanna and V Ramasubramanian. At the same time, it was told in some media reports that Justice BR Gavai and Justice BV Nagaratna wrote two different judgments.

 

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