The Supreme Court backed Prime Minister Narendra Modi's 2016 notes ban today in a landmark 4-1 majority judgment and said it was "not relevant" whether the objective of the overnight ban was achieved. One judge disagreed, calling the move "unlawful".
A constitution bench said the central government's November 8, 2016 order to ban ₹ 1,000 and ₹ 500 currency notes is valid and the decision-making process could not be faulted just because the Centre initiated the move.
The Centre, said the court, is required to act in consultation with the Reserve Bank of India (RBI) and there is an "inbuilt safeguard". This consultation did take place for six months, four of the five judges said.