Supreme Court Dismisses Plea Challenging RBI’s Policy on ₹2,000 Notes Exchange

New Delhi: The Supreme Court dismissed an appeal challenging the Delhi High Court’s verdict on the exchange of Rs 2,000 currency notes without requisition slips and ID proof. The appeal, filed by lawyer Ashwini Upadhyay, was dismissed by a bench consisting of Chief Justice D Y Chandrachud and Justice P S Narasimha. The court deemed the matter to be an executive policy decision and therefore outside its purview.

In May, the Delhi High Court had rejected a PIL that challenged the notifications allowing the exchange of Rs 2,000 denomination currency notes without the need for requisition slips and ID proof. The high court justified the decision as a means to prevent inconvenience for citizens, stating that it cannot function as an appellate authority for policy decisions.

The high court maintained that the government’s decision cannot be deemed arbitrary, perverse, or supportive of illegal activities such as black money, money laundering, or corruption. However, Upadhyay filed an appeal against the high court’s ruling, arguing that criminals and terrorists are taking advantage of the exchange process by using counterfeit currency.