BJP leader wants ₹2,000 notes to be exchanged only after verifying ID, files PIL challenging RBI and SBI

BJP leader wants ₹2,000 notes to be exchanged only after verifying ID, files PIL challenging RBI and SBI

He claims that the notifications by both the banking regulator and India's top state-run lender on May 19 and 20, are against Article 14 of the constitution.

FPJ Web DeskUpdated: Monday, May 22, 2023, 08:45 PM IST
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Although there is no need to rush for depositing or replacing Rs 2,000 notes, since the Reserve Bank of India has set a deadline after four months, banks have been asked to make the process speedy and convenient. This includes provisions such as doing away with slips, and only following prevalent KYC rules, while Rs 2,000 notes can be exchanged or deposited across counters as usual.

But one BJP leader isn't happy about this, and has filed a Public Interest Litigation against banks being allowed to exchange notes without identity proof.

Not his first PIL

Advocate Ashwini Upadhyay, known for his plea for renaming Indian cities earlier this year, has approached the High Court challenging RBI and SBI's move.

He claims that the notifications by both the banking regulator and India's top state-run lender on May 19 and 20, are against Article 14 of the constitution.

Article 14 of the Constitution deals with providing equal protection to all citizens under the law.

Wants black money hoarders to be identified

Upadhyay's contention is that if people are allowed to exchange Rs 2,000 notes without providing ID, those with black money and disproportionate assets won't be identified.

It has sought directions for the RBI and SBI to make sure that people don't dispose of black money hoarded in cash under the exchange facility.

His plea added that since 80 crore Indians need free foodgrains, they rarely use Rs 2,000 notes, and argued for the currency to be deposited in bank accounts only.

Before this Upadhyay has filed more than 150 PILs, which includes a plea to ban unrealistic promises made by political parties and a recent petition in Delhi High Court that seeks recall of all notes except Rs 100.

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