Today, On 20th August, The Supreme Court requested a status report from the CBI on whether separatists exchanged defaced currency at the RBI. A Bench comprising Justices Surya Kant and Ujjal Bhuyan emphasized the sensitivity of the issue and questioned the counsel representing the Union government, RBI, and CBI about any actions taken so far.
New Delhi: The Supreme Court, On Tuesday, directed the Central Bureau of Investigation (CBI) to submit a status report in response to a public interest litigation (PIL) concerning the alleged exchange of defaced currency by separatists at the Jammu branch of the Reserve Bank of India (RBI).
A Bench comprising Justices Surya Kant and Ujjal Bhuyan emphasized the sensitivity of the matter and inquired with the counsel representing the Union government, the RBI, and the CBI about any actions taken thus far.
“What actions agencies have taken as to the present situation of these defaced currency there? This is a sensitive issue.”
The matter scheduled to be revisited in four weeks.
Read Also: RBI Governor: “Sufficient time given” | On Action Against Paytm Payments Bank
The PIL filed by Satish Bhardwaj, who claimed that Rs.30 crore worth of defaced currency associated with a separatist group called ‘Kashmir Graffitti’ exchanged at the RBI between May and August 2013.
Bhardwaj argued in his plea that this separatist group aims to disrupt peace and harmony in the region, fostering an atmosphere of fear and terror among the local population. He emphasized that a court-monitored CBI investigation is necessary, noting that RBI regulations prohibit the exchange of deliberately stamped currency.
In March 2020, the Supreme Court directed the Central government to submit a response to the matter. However, during the hearing on July 10 this year, the Court observed that no affidavit had been filed yet.
In response to the petition, the Supreme Court expressed concern over the issue, recognizing its potential national security implications. The court instructed the Solicitor General to examine the matter closely and has scheduled further hearings to monitor the progress of the investigation. The CBI has been asked to clarify the actions taken so far and provide a detailed status report on the matter.
This case raises significant questions about the integrity of financial institutions and the potential misuse of currency by groups seeking to disrupt national peace and stability. The Supreme Court’s involvement underscores the seriousness of the allegations and the importance of a thorough investigation to ensure accountability.