SC asks government to reopen deposit window for demonetised notes

cash crunch inr 500 inr 1000 notes

Supreme Court on Tuesday, instructed the government to reopen the deposit window for demonetised notes within two weeks. This order will benefit all those individuals who could not deposit old notes of INR 500 and INR 1000 because of genuine reasons.

After the vacations, Supreme Court opened with a digital initiative yesterday. Over the next few days, the apex court will have a number of pending cases in front of it. Today, while listening to a plea regarding the deposition of demonetised notes. Supreme Court asked government as to why should the individuals not given a chance of depositing their old notes. This is applicable to the individuals who had genuine reasons behind not able to deposit the notes before December 31.

The government had initially announced that it would give a short window to such individuals. Quoting that announcement, the supreme court stated that the government needs to abide by its words. The supreme court has given 2 weeks to the government to announce this window.

This update has surely come as a good news for all those individuals who could not deposit their demonetised notes to the bank within the specified period. However, this time, they will need to furnish enough evidence to prove their case.