The Centre today told the Supreme Court that substantial amount of banned Rs 500 and Rs 1000 notes has been deposited in banks and the situation post demonetisation will ease out in next two-three weeks.
In an additional affidavit, filed a day before the crucial hearing of various pleas challenging demonetisation, the Centre justified the drive saying it is in the interest of the nation and would help in curbing black money and weeding out fake currency from the system.
It said the demonetisation would also give a boost to anti-terror activities of the country.
Highlighting the measures taken to normalise the situation after the November 8 notification when Rs 500 and Rs 1000 noted seized to be legal tender, the additional affidavit settled by Attorney General Mukul Rohatgi said the number of recalibrated ATMs are increasing day by day and government is monitoring the grant given to farmers.
It told the court that government is also monitoring various exemptions given in the drive and from December 2, petrol pumps will not take Rs 500 currency notes as use of debit and credit cards is picking up pace.
"Since the digitisation is in progress at desired pace, government has decided to stop the use of old Rs 500 notes at petrol pumps from December 2, which otherwise would have been till December 15," he said that this fact has been brought in the affidavit.
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Meanwhile, a petition has been filed in support of demonetisation of old Rs 500 and Rs 1000 notes.
The petition filed by the National Lawyers' Campaign for Judicial Transparency and Reforms contended that it has been aggrieved by the number of so-called PILs in challenge of the demonetisation policy filed by certain eminent and outstanding lawyers, who are practically on a much higher pedestal than the ordinary public, above their equality.
The lawyers' group said it filed the petition in support of the Centre's November 8 notification as there was the perceived inability of the government lawyers to defend this public policy.
"Demonetisation being a matter which falls in the exclusive domain of executive policy is not justiciable, that, it is well within the exercise of the sovereign executive powers of the Union of India as defined under Article 73 of the Constitution," the petition said.
It said the petitions and PILs challenging the validity of the demonetisation policy and decision making are wholly not maintainable.
The lawyers' body said the notification being in the realm of monitory decision, coming under the definition of money bills and legislative policy and hence non-justiciable.
