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Genuine people should be allowed to deposit old notes, SC tells Centre

SNS | New Delhi |

In what can be called as a big relief to the people who were affected by the demonetisation move, the Supreme Court on Tuesday asked the Centre and the Reserve Bank of India (RBI) to give another chance to 'genuine people to deposit old notes'.

"One cannot make people suffer if they have genuine reasons and they should be allowed to deposit old notes," the top court observed.

Chief Justice of India, JS Khehar, said, "If these genuine people are not given a chance, then it is a serious issue."

The Supreme Court also asked the Central government and the RBI, whether a window can be provided to the people who could not deposit their old Rs. 500 and Rs.1,000 currency notes.

The apex court has given two weeks time to the Centre and the RBI to respond. The next hearing in this matter will be held on July 18.

The Central government told the division bench of the apex court that it would file an affidavit in the case.

Prime Minister Narendra Modi had in November made the announcement that the high-denomination notes would be illegal for transactions. People were given till December 30 to turn in their old notes at post offices and banks.

(With inputs from agencies)