On November 8 last year, Prime Minister Narendra Modi had announced that Rs 500 and Rs 1,000 notes would be scrapped from the next day. (File) On November 8 last year, Prime Minister Narendra Modi had announced that Rs 500 and Rs 1,000 notes would be scrapped from the next day. (File)THE SUPREME Court on Tuesday gave the Centre and Reserve Bank of India two weeks time to consider granting a window to those who have not been able to exchange scrapped Rs 500 and Rs 1000 notes for “genuine reasons”. “You (Centre) cannot be allowed to deprive a person of his money if he couldn’t deposit it due to some genuine problems. However, it was later specified that only those who were abroad or armed forces personnel posted in remote areas or others who could give valid reasons for not being able to deposit the scrapped notes at banks, could deposit the demonetised currency notes till March 31.

Source: Indian Express July 04, 2017 15:48 UTC