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The Supreme Court told the petitioner that he has argued that RBI should take steps to reduce black money. “But tracking black money is a matter that falls within executive governance” | Latest News India
Six years after the shock move to ban 86 per cent of the currency in circulation, cash is still the king with official data showing close to doubling of cash with the public.
The Supreme Court today upheld the demonetisation of Rs 1,000 and Rs 500 currency notes. Justice BV Nagarathna dissented as the four other judges of the five-judge bench ruled in favour of the Centre's 2016 exercise.
Rajiv Kumar, the former vice-chairman of government's thinktank Niti Aayog, today gave a mixed report card to the notes ban of 2016.
Congress's P Chidambaram stopped short of questioning the Supreme Court verdict on notes ban today, and instead, pointed out its shortcomings.