“We will have riots on the streets,” said Supreme Court on Notes Ban. Center had to face tough questions from Supreme Court again as demonetization of Rs.500 and Rs.1000 notes had a deep impact on the nation. TS Thakur, Chief Justise of India said, “petitions challenging the currency ban is indicating the magnitude of the problem.”
The queue outside banks across the country is not getting any lesser with the measures that the government has been taking. Situation in villages are worsts in comparison to cities. Referring to the current situation, Chief Justice asked the government “You have scrapped 500 and 1,000, but what happened to the 100 rupee note?”.
In reply, the government representative said that ATMs need to be recalibrated because they only have one single drawer to hold Rs.100 notes. Recently Arun Jaitley said that re-calibration of ATMs is under process and will be done soon. He said the process is going pretty fast.
Government is changing the rules almost every single day after PM Narendra Modi announced the demonetization of Rs.500 and Rs.1000 notes. Recently, the exchange limit has been cut to Rs.2,000 per day from Rs.4,500. Taking this change into concern, Justice Thakur asked “The last time you said you are working out relief but you have reduced the withdrawal amount to 2,000. What’s the problem? Is it a printing problem?”
“Not only printing, it has to be transported to lakh of branches across the country and ATMs have to re-calibrated,” added Attorney General Mukul Rohatgi.
Kapil Sibal representing one of the petitioners alleged the government that people in villages and in the northeastern states are unable to withdraw money. Kapil Sibal is a senior lawyer and congress leader.
“Mr. Sibal is making a political issue here. You can’t convert this court into a political platform. Let him go outside and address people as a Congress person,” replied government prosecutor.
Getting off-topic, the whole process of currency exchange is definitely going to take much longer time than expected. Government is taking every measure to control the currency crisis situation, but, day by day the situation is getting bad at some places. However, there has been seen some improvement at some of the places.
