The court gave the direction during the hearing of a petition filed by Kallettumkara Service Cooperative Bank seeking permission for primary cooperative banks also to carry out the exchange process in the wake of demonetisation of high denomination currency notes.
The petitioner bank contended that they should be allowed to do the process as they were also functioning under the provisions of Banking Regulation Act.
Directing the Central Government to clarify its stand on the issue, Justice P B Suresh Kumar posted the to November 16 for further hearing.
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