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SC rejects bank's plea for exchange of Rs.371 crore scrapped currency

SC rejects bank's plea for exchange of Rs.371 crore scrapped currency

Monday, March 27, 2017, 10:51 PM

The SC dismissed the plea of Nashik District Central Cooperative Bank Ltd seeking quashing of the RBI letter barring it from exchanging Rs.371 crore it had deposited in demonetized currency. A bench headed by Chief Justice Khehar dismissed the plea of the bank which said that barring of the exchange before March 31 will lead to closure of 281 branches in Nashik district.
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