In January 2023, a 4:1 majority of the Supreme Court upheld the constitutional validity of the 2016 …

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In January 2023, a 4:1 majority of the Supreme Court upheld the constitutional validity of the 2016 demonetization decision, holding that the procedure under Section 26(2) of the RBI Act was followed, though dissent noted lack of ______ consultation.

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expert
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Answer: expert

Demonetization case (January 2023): SC upheld 2016 demonetization (â‚¹500/â‚¹1000 notes) by 4:1 majority. Majority held: (a) Procedure under Section 26(2) RBI Act followed (RBI Board recommendation, Central Government notification), (b) Policy decision within executive domain, (c) No violation of Article 14/19/300A. Dissent (Justice Nagarathna): Noted lack of adequate expert consultation, disproportionate impact on informal sector, procedural flaws. Illustrates judicial deference to executive economic policy while highlighting accountability concerns.

Topic Demonetization Challenge - Constitutional Validity

Exam Relevance Executive power and judicial review question critical for UPSC Mains and Judiciary exams

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GK Question

In January 2023, a 4:1 majority of the Supreme Court upheld the constitutional validity of the 2016 demonetization decision, holding that the procedure under Section 26(2) of the RBI Act was followed, though dissent noted lack of ______ consultation.