India's Supreme Court upholds legality of 2016 demonetisation

FILE PHOTO: A bank employee takes out a bundle of old 500 Indian rupee banknotes from a sack to count them inside a bank in Jammu, November 25, 2016. REUTERS/Mukesh Gupta

NEW DELHI (Reuters) -India's Supreme Court on Monday upheld the legality of the government decision in 2016 to demonetise 86% of the country's cash in circulation, saying the decision was taken in consultation with the central bank and followed due process.

A five-judge bench of the country's top court passed the verdict by a majority on a batch of petitions questioning the move. One out of the five judges wrote a dissenting opinion.