Demonetisation verdict: Supreme Court upholds the note ban with 4:1 majority
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The Supreme Court on Monday held that demonetisation cannot be struck down on the grounds of proportionality. Justice Gavai announced his verdict upholding the note ban. Justice BV Nagarathna differs from Justice Gavai's judgment on the point of powers of Central Govt under Section 26(2) RBI Act. The court announced the verdict after hearing a batch of pleas challenging the government's 2016 decision to demonetise currency.