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Key Points

The Supreme Court has decisively dismissed a Public Interest Litigation (PIL) that alleged the Reserve Bank of India exchanged defaced currency notes from a Kashmiri separatist group in 2013. The bench, led by Justices Surya Kant and N Kotiswar Singh, rejected the petition after being informed that the petitioner, Satish Bhardwaj, had previously been fired from the RBI. While the court dismissed the case, they left open the possibility of future investigation if deemed necessary. The petitioner had claimed the RBI violated its own exchange rules by processing currency notes allegedly stamped with separatist slogans.

Key Points: Supreme Court Dismisses RBI Currency Exchange PIL

  • Supreme Court dismisses PIL about RBI currency exchange allegations
  • Petitioner Satish Bhardwaj claims RBI violated exchange rules
  • Case involves Kashmiri separatist group's defaced currency notes
  • Bench notes potential future investigation if required
2 min read

SC dismisses plea alleging Kashmiri separatist group's money exchanged by RBI

SC rejects petition alleging RBI exchanged defaced currency notes from Kashmiri separatist group in controversial 2013 incident

"We are not inclined to entertain this writ petition - Supreme Court Bench"

New Delhi, January 13

The Supreme Court has dismissed a petition which alleged that the Reserve Bank of India (RBI) exchanged currency notes worth Rs 30 crores that were defaced by a Kashmiri separatist group in 2013.

A bench of Justices Surya Kant and N Kotiswar Singh dismissed the PIL which sought a Central Bureau of Investigation (CBI) probe into the allegations.

"We are not inclined to entertain this writ petition purportedly filed in the public interest. The same is, accordingly, dismissed. However, the issue, if so required to be adjudicated, shall be gone into an appropriate case," the bench stated in its January 10 order.

The bench was informed by the RBI that the petitioner, Satish Bhardwaj, had suppressed the fact that he was fired from the RBI.

Bhardwaj alleged that in 2013 the Jammu branch of the RBI exchanged the currency notes, which belonged to a separatist group, in violation of the RBI Act and the RBI (Note Refund) Rules, 2009.

He further alleged that the separatist group in Kashmir, in a statement on Facebook claimed to have stamped separatist slogans on Indian currency worth Rs 30 crore between May and August 2013.

The currency notes could only be exchanged as per law and no such stamped currency could be exchanged as per RBI regulations, stated the petitioner.

- ANI

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