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Not for grant of grace period to deposit scrapped notes: Govt

Press Trust of India  |  New Delhi 

The Centre today asserted in the Supreme that it was not inclined to grant any more grace period for depositing the scrapped Rs 500 and Rs 1,000 notes, saying the very object of and elimination of would be defeated if further window was given.

"The very object of and elimination of will be defeated if a window is opened for a further period as the persons in possession of the specified notes (scrapped notes of Rs 1,000 and Rs 500) will have had sufficient time and opportunity to carefully plan the reasons and excuses for not depositing the SBNs within the permitted period -- before December 30, 2016," the Ministry of said in its affidavit.

The Centre was responding to the July 4 directive asking it to consider granting a window to those who have not been able to exchange the scrapped notes for genuine reasons.

The apex had said that people should not lose their own money for no fault of theirs.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 17 2017. 21:07 IST