In a Public Interest Litigation (PIL) filed by BJP leader and Advocate Ashwini Kumar Upadhyay, the Delhi High Court is presented with a challenge against the Reserve Bank of India (RBI) and State Bank of India (SBI) notifications that allow the exchange of Rs 2000 banknotes without the need for a requisition slip or identity proof. The plea argues that this decision is arbitrary, irrational, and violates Article 14 of the Constitution, rendering it inoperative.
Upadhyay's plea seeks a direction from the RBI and SBI to ensure that Rs 2000 banknotes are deposited only in respective bank accounts, preventing the possibility of money being deposited in other people's accounts and enabling the identification of individuals with black money and disproportionate assets. The plea also requests the court to direct the government to take appropriate measures against holders of black money and disproportionate assets in order to combat corruption, and benami transactions, and safeguard the fundamental rights of citizens.
Highlighting the RBI's data, the plea reveals that the total value of Rs 2000 banknotes in circulation has significantly decreased from Rs 6.73 lakh crore to 3.62 lakh crore, with a significant amount hoarded by separatists, terrorists, Maoists, drug smugglers, mining mafias, and corrupt individuals.
The plea further emphasizes that with India's total population of 142 crores and the number of families being 30 crores, it is estimated that each family possesses 3-4 AADHAAR cards, and every family has a bank account, including the 48 crore Jana Dhan accounts of BPL families. Given this context, the plea questions why the RBI permits the exchange of Rs 2000 banknotes without requiring identity proof. It argues that since 80 crore BPL families receive free grains, they rarely use Rs 2000 banknotes. Therefore, the petitioner seeks the intervention of the RBI and SBI to ensure that Rs 2000 banknotes are exclusively deposited in bank accounts.
The PIL aims to promote transparency, accountability, and the efficient utilization of banknotes, raising concerns over the exchange process and advocating for measures that will strengthen the fight against corruption and safeguard the rights of citizens.