PIL against RBI, SBI over exchange of Rs 2000 notes without ID proof

New Delhi: A public interest litigation (PIL) has been filed in the Delhi High Court against the Reserve Bank of India (RBI) and State Bank of India (SBI) notifications, which allow the exchange of Rs 2,000 currency notes without any identity proof or requisition slip. According to the plea the decision is “arbitrary, irrational and offends Article 14 of the Constitution of India, hence, inoperative.”

The PIL was moved by BJP leader and lawyer Ashwini Kumar Upadhyay. It further sought direction from the RBI and SBI to ensure that Rs 2,000 notes are deposited in the respective bank accounts only so that no one could deposit the money in others’ bank accounts and people with black money and disproportionate assets could be traced easily.

In addition, the PIL also prays for direction to the Centre to take appropriate action against the disproportionate asset and black money holders to eliminate corruption, and benami transactions and secure the fundamental rights of citizens. It also states that as per RBI total value of Rs 2,000 currency notes in circulation has declined from Rs 6.73 lakh crore to Rs 3.62 lakh crore, of which 3.11 lakh crore has been deposited either in individual’s locker or has been hoarded by the separatists, terrorists, Maoists, smugglers, mafias and corrupt individuals.