No extension of December 30 deadline for demonetised note deposits, says Centre
The government reiterated that there is enough cash available with the Reserve Bank of India and other banks.
The Centre on Tuesday said that it was not considering extending the December 30 deadline for deposit of the demonetised Rs 500 and Rs 1,000 currency notes, reported PTI. During the ongoing Winter Session in Rajya Sabha, the government again claimed that there was sufficient cash available with the Reserve Bank of India and other banks.
“Circulation of notes in respect of Rs 100 has already been increased. No such proposal for extension of deadline beyond December 30, 2016, is presently under consideration of the government,” Minister of State for Finance Arun Ram Meghwal said. He added that banks have been asked to supply notes of smaller denominations to meet cash demands in rural areas.
This comes as Opposition parties have stalled Parliamentary proceedings, demanding that Prime Minister Narendra Modi attend a session for a debate on the demonetisation move. On November 8, Prime Minister Modi had announced that Rs 500 and Rs 1,000 notes will not be legal tender anymore. On the day of the announcement, there was money worth Rs 1,716.50 crore in Rs 500 and 685.80 crore of Rs 1,000 notes in circulation, according to PTI.