PIL in Madras HC says money transaction above Rs 5,000 should be made digital

MADURAI: The Madurai bench of the Madras high court on Tuesday ordered a notice to the central government on a public interest litigation that sought it to be made mandatory that transaction of money above Rs 5,000 be made only by debit cards or through net banking or mobile banking.

K K Ramesh of the Tamil Nadu Centre for Public Interest Litigation filed the petition seeking the court's direction to the Union' finance ministry to issue a notification to this effect.

When the petition came up for admission before a division bench headed by Justice A Selvam, the petitioner said the central government on November 8 demonetised Rs 500 and Rs 1,000 currency notes to curb black money and counterfeit currencies.
To strengthen the government's move, it is necessary that the finance ministry should issue a notification making it mandatory that money transaction above Rs 5,000 be made through ATM or debit cards and through net and mobile banking systems, it said.