We will have riots in the streets, says Supreme Court to Govt on demonetisation

New Delhi: The Supreme Court warned the Centre that “we will have riots in the streets” if the difficulties experienced by people in obtaining currencies are not addressed.

“This is very serious. This will require great consideration. People have become frantic for money, people are affected. We will have riots in the streets” observed Chief Justice T.S. Thakur sitting with Justice Anil R. Dave. The bench refused to stay the petitions pending in High Courts challenging demonetisation of Rs 500 and Rs 1,000 notes.

Moving cash is difficult, says A-G
Attorney General Mukul Rohatgi, appearing for the Centre, submitted to the court that there was no such tense situation prev-ailing in the country. “That is completely wro-ng. People are patiently st-anding in lines,” he said.

Chief Justice T.S. Thakur told Mr Rohatgi: “People are frantic. From newspaper reports we know the inconvenience and the difficulty faced by public. Please don’t dispute it. We also get to know that the old currency exchange limit you have reduced to Rs 2,000 from Rs 4,500. We had asked you to give them relief but you have squeezed them further. Don’t you have sufficient notes? Is the difficulty in the printing part?”

The AG acknowledged that there is a shortage of Rs 100 notes as the now defunct Rs 500 and Rs 1000 notes had formed 86 per cent of the currency in circulation before November 8. He said the difficulty was not just printing part but movement of notes to banks and post offices, its transportation and calibration of ATMs.

Explaining the measures taken by the government, Mr Rohatgi said withdrawal limit has been enhanced to Rs 2.50 lakhs for weddings and farmers will get Rs 50,000. He said “we have started measures where people can swipe their cards at petrol pumps and withdraw Rs 2,000.”