On 8th November 2016, the Central Government declared that currency notes of Rs. 500 and Rs. 1000 denominations shall no longer be legal tender in India. This measure, colloquially called “demonetisation”, was taken in exercise of powers conferred upon the Government by S.26(2) of the RBI Act. Several petitions were filed in the Supreme Court challenging the validity of this measure. More than four years later, on 2nd January 2023, the Supreme Court dismissed those petitions by a verbose 400-page judgment, including a 260-page majority judgment.

Join Shrutanjaya Bhardwaj for a crisp explainer on the judgment.