Why did you break your promise on deposit of old notes, SC asks centre

The Supreme Court on Monday sought to know why the centre went back on its promise to extend the final date to deposit demonetised or old currency. The centre had initially said that the last date to deposit the notes would be March 31, but it went back on its promise, a petition in the Supreme Court alleged. The court also sought to know why the centre should not allow people to deposit old notes till the end of March.

The court also issued notices to the Reserve Bank of India on the same issue. The petitioner alleged that despite a government directive, the RBI had refused to accept old or demonetised notes of Rs 500 and 1,000.

Several citizens had complained that the RBI had stopped accepting old notes. Many were under the impression that old notes would be accepted till March 2017. However in January many were in for a rude shock when a notice on the gate of the RBI office read, " from today onwards old notes will not be accepted.

The SC while issuing notices to the RBI sought to know why old notes were not being accepted. The RBI will now have to reply to the SC and give its explanation.

OneIndia News