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Power to withdraw banknotes lies with Centre, petitioner to Delhi HC on Rs 2K note issue - Vimarsana News

Power to withdraw banknotes lies with Centre, petitioner to Delhi HC on Rs 2K note issue

The Delhi High Court on Tuesday reserved its judgement on a plea filed against the Reserve Bank of India (RBI)'s decision to withdraw Rs 2,000 notes from circulation.

Reserve Bank of India (RBI) | Rs 2000 currency notes withdrawal: Reserve Bank of India doesn't have power to withdraw banknotes, petitioner tells Delhi High Court, court reserves verdict - Vimarsana News

Reserve Bank of India (RBI) | Rs 2000 currency notes withdrawal: Reserve Bank of India doesn't have power to withdraw banknotes, petitioner tells Delhi High Court, court reserves verdict

A bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad reserved its order on the PIL after hearing the counsel for the petitioner and the central bank

Power to withdraw banknotes lies with Centre: Petitioner to Delhi HC on Rs 2,000 note issue - Vimarsana News

Power to withdraw banknotes lies with Centre: Petitioner to Delhi HC on Rs 2,000 note issue

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PIL says only Centre can withdraw notes, RBI says managing money its domain; HC reserves order - Vimarsana News

PIL says only Centre can withdraw notes, RBI says managing money its domain; HC reserves order

In the previous hearing, the RBI had argued that this exercise was only for exchange of notes, and after September 30 — the deadline for exchanging currency notes of Rs 2,000 denomination — a decision may be taken after seeing a result of the exchange.