The Supreme Court on Friday sought the response of the Centre on whether district cooperative banks can be allowed to accept deposits with certain conditions.
Attorney General Mukul Rohatgi said the district cooperative banks had a lax system and cannot check the inflow of black money, which was antithetical to the very objective of demonetisation.
No relaxation
“We are not willing to relax in the case of cooperative banks,” Mr. Rohatgi submitted.
Mr. Rohatgi asked the court to look into the management of societies which operated accounts in these banks.
“But it is one thing to completely stop something, it is another to intelligently control it. You have, we believe, very capable officials who can devise a mechanism [to check fake currency]. If you could embark on such a large [demonetisation] scheme, you can as well see to these small matters,” Chief Justice Thakur reacted.
Again, the court marked this issue as one to be resolved quickly.
