The Supreme Court on Monday dismissed a petition challenging the notifications issued by the Reserve Bank of India (RBI) and the State Bank of India (SBI) permitting the exchange of ₹2,000 currency notes without requirement of any identity proof.
A Bench headed by Chief Justice of India D.Y. Chandrachud rejected the petition filed by advocate-petitioner Ashwini Kumar Upadhyay, saying it was a policy matter.
The court found no merit in Mr. Upadhyay’s argument that the RBI notification on May 19 and the SBI notification of May 20, which permitted exchange of ₹2,000 banknotes without even obtaining any requisition slip and identity proof, was manifestly arbitrary and irrational and against Article 14 of the Constitution.
