₹2000 notes: Delhi HC reserves decision on PIL against RBI, SBI notifications on exchange without ID

Delhi High Court has reserved the order on the PIL challenging Reserve Bank of India (RBI) and State Bank of India (SBI) notifications, which permits the exchange of ₹2000 currency notes without obtaining any requisition slip and identity proof, as per news agency ANI.

A Public Interest Litigation (PIL) was filed in the Delhi High Court against RBI and SBI for allowing the exchange of ₹2,000 banknotes without a requisition slip or identity evidence.

The plea calls the decision arbitrary and irrational and in violation of Article 14 of the Indian Constitution.

Ashwini Kumar Upadhyay, a BJP leader and lawyer, moved the motion and asked the RBI and SBI for instructions to make sure that ₹2,000 banknotes are only deposited in people's respective bank accounts so that no one could deposit the money in others' bank accounts and so that people with black money and disproportionate assets could be easily identified.

In addition, the petition asks for guidance from the centre on how to deal with black money and excessive asset holders in order to root out corruption and benami transactions and protect individuals' fundamental rights.

On Friday, the RBI announced that ₹2000 notes would be withdrawn from circulation but would continue to be legal tender. A facility for exchange of ₹2000 notes has been made available from 23rd of May to 30th of September.