A Public Interest Litigation (PIL) has been moved in the Delhi High Court that seeks a ban on cash transactions above Rs 10,000. The PIL has been moved by BJP leader Advocate Ashwini Upadhyay and it may come up for hearing in the court on Friday.
The PIL prays for direction to the Delhi Government and Central Government to take appropriate steps and that the appropriate order is passed within 30 days.
The petition said, "It will not only help in curbing corruption, black money generation and Benami transaction but also in weeding out an organised crime like separatism, terrorism, Naxalism, radicalism, gambling, smuggling, money laundering, kidnapping and extortion and other similar threats to human security."
According to the petitioner, cash transactions in high denomination currency, allegedly used in illegal activities, inflates the prices of essential commodities, major assets like real estate, gold etc. It also distorts and disrupts the public distribution system and has an adverse impact on Economically Backward Class (EWS) and Below Poverty Line (BPL) families.
The petition claims that a ban on cash transactions above Rs 10,000 will lead to an increment of one per cent in annual growth, a clean electoral process which is dominated by black-money and Benami transaction.