The Supreme Court gave a clean chit to the central government on demonetisation, said - 'The government's decision is correct'

Supreme Court has upheld the central government’s decision to ban demonetisation. A bench of 5 judges in the Supreme Court pronounced this decision. The bench said that there was no error in the demonetisation process. The bench also said that the financial decision cannot be overturned. Let us tell you that in 2016, Prime Minister Modi announced to stop 1000 and 500 notes. 58 petitions were filed against this decision of the government.

Hearing more than 3 dozen petitions against demonetisation, the court said that nothing wrong was found in its process. The Supreme Court said that the RBI has no power to demonetise and the decision was taken only after consultation between the Center and the RBI.

Earlier, the court had on December 7 ordered the Center and the RBI to hand over all the records related to the 2016 decision to them. After this the decision was reserved. This bench also includes Justices BR Gwai, AS Bopanna, V Ramasubramaniam and BV Nagaratna.