A Bench led by Chief Justice of India T.S. Thakur has agreed to hear a petition filed jointly by seven district co-operative banks from Kerala claiming demonetization policy is anti-poor and capable of reducing cooperative sector to penury.
The apex court has fixed December 2 as the date of hearing. The matter had come in the court on Tuesday.
The petition has argued that the decision of the centre is not only affecting the co-op banks of Kerala but all other co-op banks across the states in the country.
It has made PMO, Centre and RBI as the party claiming that the move has crippled the cooperative sector.
Meanwhile, PTI report says the Gujarat High Court on Tuesday sought replies from the Centre and RBI on a petition challenging the legality of their notifications banning district central co-operative banks (DCCBs) from exchanging defunct notes and disbursing short-term loans to farmers.
A division bench of Chief Justice R Subhash Reddy and Justice V M Pancholi asked the government pleader to seek instructions from the two defendants and posted the matter for further hearing on December 5.