The Supreme Court of India has dismissed the plea filed by BJP leader and advocate Ashwini Kumar Upadhyay challenging the Reserve Bank of India's (RBI) notification that permits the exchange of ₹2,000 currency notes without requiring any identity proof. The bench, consisting of Chief Justice of India (CJI) DY Chandrachud and Justice PS Narasimha, stated that the purpose of demonetization had already been fulfilled, and the exchange of ₹2,000 notes without ID proof was a part of executive governance.

The CJI posed a hypothetical situation, questioning whether a vegetable vendor would ask for ID proof while accepting a ₹2,000 note or if such transactions should be considered illegal. The court emphasized that the matter pertained to the executive's jurisdiction and that legality could not be equated with desirability. The bench reasoned that a significant number of transactions occur in this manner and suggested that they should not be considered illegal.

Ashwini Upadhyay had appealed to the Supreme Court after the Delhi High Court had previously rejected his plea. The High Court, in its verdict on May 29, had stated that ₹2,000 notes had served their purpose and that the decision to withdraw them was a policy matter that should not be interfered with by the courts.

Upadhyay's appeal argued that the High Court ruling contradicted the objectives of several legislations aimed at addressing issues such as black money, counterfeiting, and money laundering. The appeal further contended that the RBI notification undermined the rule of law in India and violated the rights to equality and dignity, as it allowed banks to convert black money into white.

The Supreme Court's dismissal of Upadhyay's plea reaffirms the RBI's notification regarding the exchange of ₹2,000 notes without requiring ID proof, emphasizing the executive's authority in governance matters