Queues outside banks, ATMs a serious issue, there may be riots: Supreme Court

New Delhi : The Supreme Court on Friday refused to hold back several high courts from hearing petitions against the Central government's demonetisation notification. The SC said, "people are facing real problems and we cannot shut them from moving courts to register their grievances."

The SC further asked the Centre to file a plea seeking transfer of cases on demonetisation filed in different courts across country to one high court.

It may be mentioned here that Attorney general Mukul Rohatgi mentioned the several measures taken by the Centre to ease the situation after demonetisation.

Rohatgi further said things are getting sorted out, and queues are getting shorter.

The apex court said that the government had promised during the last hearing to increase the exchange limit from Rs 4,500, but, instead, it has reduced it to Rs 2,000. "Why?," the SC bench asked.

It is worth mentioning that Central government on Thursday reduced the exchange of old Rs 500 and Rs 1,000 notes from Rs 4,500 a day to Rs 2,500. Justifying the step, Finance minister Arun Jatiley said that that the exchange window of Rs 4,500 a day was being misused and this had led to the government reducing the amount to Rs 2,000.

 

The finance minister was further quoted saying, "The queues are becoming smaller. Deposits and withdrawals are progressing well. The government will not accept this misuse due to which the amount has been reduced."