Ten News Nerwork
New Delhi : One thing is very important which is missing in all debates, that is every note gives bearer a guarantee of paying back to him the equivalent amount on demand. It does not lay any condition thereof, neither the law which mandates issue of such notes, require fulfilment any such conditions or furnishings of any document. It should be kept in mind that this guarantee is not any ordinary guarantee but a sovereign guarantee, the revocation of which poses several questions… Whatever compelling reasons may be there, a sovereign democratic state cannot run as per PM whims and fancies. State while issuing such notes never put an condition in this behalf. This treated everyone on equal pedestral and in future cannot choose to behave otherwise…..
