Kalletumkara Service co-operative bank in Kerala has petitioned the High Court questioning the rationale of the demonetization scheme launched by the govt. of India ‘ reports News 18.
The court has issued notice to the Central government and Reserve Bank of India. The case will come up for hearing in the court on Thursday.
Meanwhile, Kerala Minister for Co-operative said the primary co-operative banks should be allowed to conduct transactions. Sources say all cooperative banks in Kerala will stop working for a day protesting demonetization.