Demonetisation

Governor Ahmed emphasized that the transition to the new currency would be gradual to prevent disruptions and public panic, learning from the experiences of other countries that faced challenges during similar transitions.

"The Rs 2000 note was introduced with a specific purpose to replenish currency during demonetisation; the purpose has been served. There is no reason for the public to rush to banks, there is enough time of 4 months. We expect most notes to return," RBI Governor Shaktikanta Das said.

Former principal secretary to Prime Minister Narendra Modi, Nripendra Misra, who was in the thick of things during November 2016 demonetisation, said PM Modi always believed that the Rs 2000 notes are not practical currency for the day to day transactions. 

Unlike the November 2016 shock demonetisation when old Rs 500 and Rs 1,000 notes were invalidated overnight, the Rs 2,000 notes will continue to be a legal tender till September 30.

The RBI on Friday announced withdrawal of Rs 2,000 currency notes from circulation, and existing notes in circulation can either be deposited in bank accounts or exchanged by September 30.

Targeting the central government over the demonetization and GST, Rahul Gandhi said Ludhiana used to be the manufacturing centre of small and medium enterprises and used to compete with China.

On Tuesday, scores of people joined the march as it resumed from Tanda as part of its Punjab leg amid biting cold conditions. Many people, including singer Rabbi Shergill, were seen joining the march.

Born on October 30 1962, Justice Nagarathna may become the first female Chief Justice of India (CJI) in 2027 with a tenure of over one month. The 60-year-old Justice is the daughter of former CJI ES Venkataramiah, who was on the top SC post for six months in 1989.

In a written reply, Union Finance Minister Nirmala Sitharaman furnished in the Lok Sabha on December 19, 2022, the value of NiC fell over 20 per cent at end of March 2017 to Rs 13.1 lakh crore but has been on the rise since.

Former Finance Minister P Chidambaram said, "We are happy that the minority decision has highlighted the illegality and irregularities in the demonetisation. It may only be a slap on the government's wrist, but it's a welcome slap on the wrist." 

A five-judge Constitution bench observed that there has to be great restraint in matters of economic policy. The bench further said that the decision-making process cannot be faulted merely because the proposal emanated from the central government.

A five-judge constitution bench of Supreme Court will pronounce a verdict on a batch of pleas challenging the government’s 2016 decision to demonetise currency notes of Rs 1,000 and Rs 500 denomination today.

During the hearing, Attorney General R Venkataramani pleaded to the top court for more time to file the Centre's affidavit. He expressed his regrets for seeking an adjournment of the proceedings.

On November 8, 2016, Prime Minister Narendra Modi had announced the decision to withdraw Rs 500 and Rs 1,000 denomination notes with the ultimate aim of reducing corruption and black money in the economy.

The bench also said that while it is aware of the "Lakshman Rekha" on judicial review of government policy decisions, it will have to examine the 2016 demonetisation decision to decide whether the issue has become a mere "academic" exercise.