Screenshot_20230601-192506_Hindustan Times

The RBI on May 19 has announced the withdrawal of Rs. 2000 notes from circulation. Image source: Hindustan Times

Plea Against Exchange of ₹2000 Without I’d Verification Denied, Urgent Hearing by Supreme Court.

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The Supreme Court of India has declined to grant an urgent hearing on a plea challenging the exchange of ₹2000 notes without the requirement of presenting valid identification proof. The decision comes as a setback to the petitioners who sought the court’s intervention in addressing concerns related to the potential misuse of high-value currency.

The plea, filed by a group of concerned citizens, alleged that the recent relaxation in rules allowing the exchange of ₹2000 notes without the need for providing ID proof could lead to the laundering of black money and facilitate illegal transactions. The petitioners urged the court to review and reinstate the requirement of mandatory identification for such exchanges.

However, a bench comprising of Chief Justice and two other judges stated that the matter did not warrant an urgent hearing at this stage. The bench observed that the relaxation of rules for exchanging ₹2000 notes was a policy decision taken by the government and fell within its domain. The court further emphasized that it would only intervene if there were substantial grounds to suggest a violation of constitutional rights or if the policy decision was found to be arbitrary or unlawful.

The decision by the Supreme Court is likely to generate mixed reactions among the general public. Supporters of the relaxation argue that it promotes convenience and eases the burden on citizens while conducting legitimate transactions. On the other hand, critics express concerns over the potential misuse of unaccounted wealth and the possibility of illegal activities going unchecked.

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