Today, the Delhi High Court rejects a PIL challenging RBI and State Bank of India's notifications that permit the exchange of Rs. 2000 currency notes without the requirement of any identity proof.

A division bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad rejected the plea moved by BJP leader and Advocate Ashwini Kumar Upadhyay. A copy of the detailed judgment is awaited.

Earlier, Senior Advocate Parag P Tripathi appearing for RBI opposed the plea and said that it must be dismissed with exemplary costs.

“This is not demonetisation...This is a statutory exercise. None of the points raised by my learned friend [Upadhyay] in any manner impinges upon the public issues,” he argued.

Tripathi further referred to various judgments of the Supreme Court wherein it has been held that courts will not be persuaded to interfere in matters concerning economic policy.

“Recently, it was announced by the Centre that every family has AADHAAR Card and Bank Account. Therefore, why RBI is permitted to exchange Rs. 2000 banknotes without obtaining identity proof. It is also necessary to state that 80 Crore BPL families receive free grains. It means 80 crore Indians rarely use Rs. 2,000/- banknotes. Therefore, petitioner also seeks direction to RBI and SBI to take steps to ensure that Rs. 2000 banknotes are deposited in bank account only,” the plea stated.

Recently, the RBI announced the decision to withdraw Rs. 2000 notes from circulation.

“In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, exchange of ₹2000 banknotes into banknotes of other denominations can be made upto a limit of ₹20,000/- at a time at any bank starting from May 23, 2023," a press note issued by RBI had said.