The Supreme Court on Friday will hear several pleas related to demonetisation of high-value currency notes and the difficulties faced by people dealing with it.
On Thursday, the Centre submitted an affidavit on the demonetisation issue in the Supreme Court, saying it is an attempt to unearth black money stashed over the last seven decades.
Attorney General Mukul Rohtagi said that the Centre had filed a reply in the Supreme Court in compliance with the top court's earlier order on the issue.
"We have filed the report starting from the initiation of SIT and all other issues which could be the affect of demonetisation process," Rohtagi told ANI.
The Centre in its affidavit told the apex court that demonetisation is a step to reduce ratio of cash transactions, adding the objective is to unearth illegal parallel economy.
"Earlier, we constituted SIT to curb black money, amended Benami Act. The people might have to face some inconveniences. Re-calibration of ATMs is in full swing. Crores of fake currency notes have became useless. Funding of terror groups has been stopped," said the affidavit.
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Attorney General Rohatgi had earlier on Monday filed a transfer petition before the Supreme Court seeking a stay on all pending pleas against demonetisation.
The Supreme Court had on November 18 refused to put a stay on hearings in various High Courts and lower courts related to the demonetisation of Rs. 500 and Rs. 1000 currency notes.