Cat would have been out of the bag: Centre tells SC on fewer notes being printed

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New Delhi, Dec 10: The centre continued to maintain that the decision on demonetistaion was a step in the right direction aimed at fighting the menace of black money.

The centre represented by Attorney General Mukul Rohatgi informed the Supreme Court that they could not print too many new notes as it would have led to the cat being let out of the bag.

Why were fewer notes printed?

The AG, while explaining to the Supreme Court why more notes were not printed said that 86 per cent of the notes were in the denomination of Rs 500 and 1,000.

"We could not have replaced them with new notes since it would have let the cat out of the bag," the AG said.

[Also Read: A quake will come if I speak in Parliament: Rahul Gandhi]

"We are doing everything to reduce the inconvenience caused to people," he added.

The AG however opposed the idea of the court fixing a minimum amount a bank must give a customer.

The centre also opposed any decision on allowing district cooperative banks to accept deposits.

"This comes under the purview of fiscal policy and will courts decide on these issues too?" the AG asked.

A judicial review would arise if the courts go into fiscal policy the AG also said.
The court however retorted by saying, "You have shaken the entire country up. You must be able to ensure that the people are not put to hardship.

OneIndia News

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