New Delhi/IBNS: The Supreme Court on Monday backed the Narendra Modi government's controversial 2016 demonetisation move, in a setback for the opposition parties that have been targeting the Centre over the step for years. 

The judges have stated the central government has the power to take such a move.

The note ban can't be struck on the grounds of proportionality, the court said.

On Nov 8, 2016, Prime Minister Narendra Modi announced the ban on Rs. 500 and Rs. 1,000 currency notes in a notice of four hours.

The step was widely seen as a move to curb black money in the country.