At this, the bench clarified that it was not looking at the prospect of staying the policy decision but asking the government to identify areas that required immediate attention and take additional measures. This, it said, was especially in view of the AG’s argument that there is a limited capacity to print new notes and that it would take some time to recalibrate the ATM machines to dispense the new currency.
The court also acknowledged that the objective behind the demonetisation appeared to be coaxing people, who have hoarded black money, to deposit it in banks. “It is not something we call illegal or undesirable since black money may be used in funding terror and in other illegal activities… There seemed to be some collateral damage in this process,” it said.
(Sourced from agencies, feature image courtesy:thehindu.com)
