A Constitution Bench on Wednesday questioned whether the government and the Reserve Bank of India (RBI) realised their stated objectives of choking black money, terror financing and fake currency through the policy to demonetise ₹500 and ₹1,000 notes in 2016.
“What about black money and terror funding?” Justice S. Abdul Nazeer, heading the five-judge Bench of the Supreme Court, asked while hearing 58 petitions challenging demonetisation.
The court’s question came despite the government urging the Bench not to “waste” judicial time on the issue. Attorney-General R. Venkataramani termed the case “academic” in nature as things had long settled.
