SC upholds 2016 demonetisation decision

Pronouncing the judgment for the majority, Justice B R Gavai said that the power available to the Central government under sub-section (2) of Section 26 of the RBI Act cannot be restricted to mean that it can be exercised only for ‘one’ or ‘some’ series of bank notes and not for ‘all’ series of bank notes. The power can be exercised for all series of bank notes.”