Denomination of ₹2000 Note: PIL Against RBI Notification

A PIL has been recently moved in the Delhi High Court challenging RBI and SBI’s notifications, which permits an exchange of ₹2000 banknotes without obtaining any requisition slip & identity proof.

The plea calls the decision arbitrary, and irrational and offends Article 14 of the Constitution of India, hence, inoperative.

The plea had been moved by BJP leader and Advocate Ashwini Kumar Upadhyay, seeking direction to the RBI & SBI to ensure that Rs. 2000 banknotes that are deposited in respective bank accounts only so that no one could deposit the money in others’ bank accounts and people having black money and disproportionate assets that could be identified easily.

Also, the plea prays direction to the Centre to take appropriate steps against the black money and disproportionate asset holders in order to weed out corruption, and benami transaction and secure the fundamental rights of citizens.

Further, the plea states that RBI’s total value of Rs. 2000 banknotes in circulation have reduced from Rs. 6.73 lakh crore to 3.62 lakh crore, of which 3.11 lakh crore has been reached either in individual’s locker otherwise has been put aside by the terrorists, separatists, drug smugglers, Maoists, corrupt people,
and the mining mafias.

Currently, the overall population of India is 142 crore, the total number of families is 30 crore, and 130 crore Indians have AADHAAR Card. That means every family has 3-4 AADHAAR cards.

Similarly, it stated, the total number of accounts is 225 Crore, and out of that 48 Crore are Jana Dhan accounts of BPL families which means every family has a bank account.

Earlier, it was announced by the Centre that every family has AADHAAR Card and Bank Account. Therefore, why RBI is permitted to exchange Rs. 2000 banknotes without attaining identity proof? It is also necessary to state that 80 Crore BPL families getting free grains. It means 80 crore Indians rarely use Rs. 2,000/- banknotes.

Therefore the plea stated, the petitioner also seeks direction from RBI & SBI to take steps to ensure that Rs. 2000 banknotes are deposited in a bank account only.