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The Bombay High Court last week dismissed a 2019 petition by a Mumbai resident seeking action against the Reserve Bank of India (RBI) for wrongful activities in currency exchange during the 2016 demonetisation
The court may have perhaps missed an opportunity to clarify the true extent or limits to the guarantee of the currency by the state.
The Supreme Court on Wednesday reserved its verdict on the batch of pleas challenging the Central government's 2016 exercise of demonetising currency notes of ₹500 and 1,000.
Senior Advocate and Former Union Minister P Chidambaram spent the day arguing before the top court that the procedure adopted by the Central government was deeply flawed.
Calling the demonetisation of Rs 500 and Rs 1000 currency notes