The government said sufficient cash is available with RBI and banks, and it is not considering extending the deadline of December 30 for deposit of invalid Rs 500 and Rs 1,000 notes. The statement was made in the Rajya Sabha even as people queued up at banks to deposit old high value notes and withdraw new cash. "There is sufficient cash available with the Reserve Bank of India and banks. On whether the December 30 deadline will be extended, he said, "No such proposal for extension of deadline beyond December 30, 2016, is presently under consideration of the government." As on November 8, the day demonetization was announced, there were 1,716.50 crore pieces of Rs 500 and 685.80 crore Rs 1,000 notes in circulation.

Source: dna November 29, 2016 10:28 UTC