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SC considering end-March deadline for old notes or not

old notes

New Delhi: Within two weeks the government will decide whether those who failed to deposit banned 500 and 1,000 rupee notes can be granted an opportunity to turn in the high denomination currency.

The decision is based on the Supreme Court, which firmly pointed out on Tuesday that when Prime Minister Narendra Modi made the shock announcement of demonetisation, he said that people would have till the end of March to give the cancelled notes to banks. The deadline was abruptly brought forward to the end of December.

The case will be heard next on April 11.

It is based on a cluster of Public Interest Litigations or PILs that challenge the RBI for not accepting any deposits of old notes after December.

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