The Supreme Court on Tuesday asked the government and the Reserve Bank of India whether genuine people can be given a window to exchange the old Rs 500 and Rs 1,000 notes, saying the honest can’t be made to suffer.
The apex court granted two weeks to the Centre to mull over the option to provide a window to those who could not deposit demonetised notes due to valid reasons.
“There can be a situation where a person has lost his/her money for no fault. Suppose a person was in jail during the period… We want to know as to why you chose to bar such persons,” the bench said.
The solicitor general then sought time to seek instructions for granting an opportunity to persons to deposit their money on a case-by-case basis.
The government had demonetized the Rs 500 and Rs 1,000 on 8 November 2016 and gave time until 30 December for common people to exchange the old notes. However, it also had assured the people at large that if they were unable to exchange them on time, they can do so till 31 March 2017 at RBI branches after complying with some formalities.