ALSO READNo stay on demonetisation, SC says govt cannot have surgical strike against people Demonetisation: SC to hear Centre's transfer plea on November 23 SC refuses to stop various courts from hearing pleas on demonetisation Supreme Court refuses to stay petitions against demonetisation SC not to stay demonetisation proceedings in HCs, says people get relief from them
"We have filed the report starting from the initiation of SIT and all other issues which could be the affect of demonetisation process," Rohtagi said.
The Centre in its affidavit told the apex court that demonetisation is a step to reduce ratio of cash transactions, adding the objective is to unearth illegal parallel economy.
"Earlier, we constituted SIT to curb black money, amended Benami Act. The people might have to face some inconveniences. Re-calibration of ATMs is in full swing. Crores of fake currency notes have became useless. Funding of terror groups has been stopped," said the affidavit.