J K News Today
New Delhi, November 18
The Supreme Court slammed the Modi government on Friday for reducing the limit of the notes to be exchanged to Rs. 2000 from Rs. 4,500 and warned that the cash chaos had the portents of triggering riots across the country.
Chief Justice T S Thakur said that the SC had asked the government to provide relief to the people, instead the government has reduced the limit of exchange of now useless Rs. 1000 and Rs 500 notes to Rs. 2000.
He wanted to know what was the government up to and how it intends to deal with the cash crunch and mitigate the suffering of the people standing in long queues waiting for their turn to get the new currency notes. Most of the times, the people end up being told that the banks have run out of cash.
The court, which came down hard on the Modi government, also refused its request to put on hold petitions pending in various high courts challenging the decision to scrap Rs 500 and Rs 1,000 banknotes that has led to a scramble for cash across the country.
“We asked you to give some relief but you have reduced the exchange limit,” the court said, referring to the previous hearing when it asked the government to ensure that people were not inconvenienced.
“Is there a printing problem?” Chief Justice of India TS Thakur asked attorney general Mukul Rohatgi.
The Centre was facing problem in moving cash to banks, ATMs and post offices, the government’s top law officer said. He also said it was not possible for the government of give Rs 100 notes to everyone.
The government’s surprise decision to scrap high-value currency has led to cash chaos in the country, with snaking queues outside banks and ATMs even after 10 days of the decision. The high-value notes accounted for 86% of the currency in circulation.