2016 Demonetisation News Today

The All India Petroleum Dealers Association said that people are trying to use the Rs 2,000 note even for small transactions, causing a shortage of change at petrol outlets.

In theory, the move may appear as a small “RBI monetary policy measure”. But in a ‘jobless-poor investment’ growth trajectory, how does the timing appeal to sound economic policy or thinking?

A five-judge Constitution Bench of the Supreme Court will deliver its verdict on the batch of pleas challenging the Central government's 2016 demonetisation exercise on January 2.

Divan added that while secrecy of a decision like demonetisation was important, it did not mean that even a minimum impact assessment could not have been carried out.

A constitution bench of the Supreme Court is due to hear the matter on Thursday. In its affidavit, the Union government repeated most of the grounds it had presented before the Central Board of RBI on November 8, 2016.

Demonetisation news: Meanwhile, Attorney General R Venkataramani seeks a weeks time to prepare the comprehensive affidavit that the court had directed to file in the last hearing.

On November 8, 2016, Prime Minister Narendra Modi announced the demonetisation of the old Rs 1,000 and Rs 500 banknotes.

The top court said that it will have to examine the 2016 demonetisation decision to come to a conclusion whether the issue has become a mere 'academic' exercise.

Inflation has remained in double digits for 13 months in a row now.