New Delhi, July 18: Today the Centre to the Supreme Court told that the scrapped notes of Rs.500 and Rs.1000 won’t be exchanged anymore henceforth. After the demonetization took place, the aim was to eliminate the menace of black money. If one more chance is given then the main objective holds no importance.
The Centre told SC that no more grace period will be granted for depositing the scrapped notes, saying the very object of demonetization and elimination of black money will be defeated if a fresh window is given. The Centre contended it had given sufficient opportunity till December 30 to the general public to deposit the banned notes.
The government claimed giving any more opportunities to people may lead to benami transactions and would defeat the very purpose of demonetization announced by the prime minister on November 8.
“In terms of the notification of 8.11.2016, the demonetization period was between 09.11.2016 and 30.12.2016 within which primarily, the exchange and or deposit of specified bank notes was permitted. The period thus available for everyone to exchange and or deposit the specified bank notes was spread over 51 days, except for closed holidays, unlike the earlier demonetization drive carried out in the year 1978, when it was restricted to six days only,” it said.