Supreme Court Verdict on Demonetisation
Context: A Constitution Bench of the Supreme Court has upheld the Union Government’s 2016 decision to demonetise currency notes of Rs 500 and Rs 1,000 by a 4:1 majority. Supreme Court Verdict on Demonetisation Background Why was Demonetisation Challenged? Section 26(2) of Reserve Bank of India Act allows central govt. to declare any series of …