Home Tags Old Rs 500 Notes

Tag: old Rs 500 Notes

Government Reduces Usage of Old Rs 500 Notes from December 15 to December 2

Government Reduces Usage of Old Rs 500 Notes from December 15 to December 2

The Central Government today has come up with a new statement that using old Rs 500 notes at Petrol Bunks and Airlines Tickets will be valid till December 2 instead of December 15 as announced earlier.

The government in a new notification mentioned that from 3rd December 2016 Old Rs 500 notes won’t be allowed for the purchase of petrol, diesel and gas stations operating under Public sector oil marketing authorized dealers and for buying airline tickets.

While throwing away old 500 and 1000 notes on November 8, Modi Government had allowed their use for utility bill payments for 72 hours.  Earlier usage of Rs old 500 notes extended twice and when the last one was to expire on November 24. Later, Government has announced that Rs old 500 notes could be used for paying utility bills like electricity, water bills, school fees, petrol stations, prepaid mobile recharges and airline tickets booking.

Exchange Your Rs 500 and Rs 1000 Notes Via Mobile Purchase: Indian Handset Makers asks Government

However, Government has cut down the deadline of using old 500 Rupee notes at Petrol Stations and Airline ticket booking from 15 December to 2 December. The other payments like railway reservations, public sector bus operators, Government operated counters until 15 December.

The Government has also dropped the plan of using old Rs 500 notes at toll booths at National Highways announced earlier. Toll Payments at National Highways will be made with only new 500 and 2000 notes from 3rd December onwards.

Meanwhile, From 3 December 2016, Fuel Stations, Airline Tickets at Airport Counters and tolls at National Highways would be allowed in lower currency notes or the new 500 and 2000 notes. Few sources said that the latest move is due to launder black money.

For More News Update: Techfactslive

Demonetisation: In 23 Places You Can Now Use your Old Rs 500 Notes

In 23 Places You Can Now Use your Old Rs 500 Notes

The Central Government on Thursday has released a circular about usage of old Rs 500 Notes following the demonetisation. Yes, the Government has announced that still you can use Rs 500 old notes in few places. In a statement Government mentioned that Old Notes exchange has stopped and banks or post offices will allow deposit and withdrawal from November 25 to December 15.

However, Government has permitted various exclusions for certain transactions and activities wherein Payment could be made through old Rs 500 notes. Now we can use Rs 500 old notes in the below mentioned places till December 15, 2016 midnight.

Nepal Bans Rs 500 and Rs 2,000 New Indian Currency Notes and considers ‘illegal’

List of Places for using old Rs 500 Notes

  1. You can use Rs 500 old notes for pre-paid mobile top-up.
  2. Any Purchases from Consumer Cooperative Stores will be limited to Rs 5000 at a time
  3. Payment of fees in Central or State Government colleges
  4. Foreigners will exchange currency up to Rs 5000 per week. So, necessary entry to this effect will be made in their passports
  5. Pay Current bills, water bills, gas bills
  6. Toll Plazas at National Highways remains closed up to December 1. Now from November 1 to December 15 midnight, they can allow old Rs 500 notes.
  7. Payment of School Fees up to Rs 2000 per student in Central Government, State Government, Municipality and local body schools.
  8. Government Hospitals will also allow Rs 500 notes
  9. Railway Stations
  10. Public Transports
  11. Airline Tickets at Airports
  12. Milk Booths
  13. Crematoria/burial grounds
  14. Petrol Stations
  15. Metro Rail tickets
  16. Pharmacies and Medical Agencies
  17. LPG Gas Cylinders
  18. Railway Caterings
  19. Current and Water bills
  20. Entry Ticket of ASI monument
  21. Consumer Cooperative Stores
  22. Taxes and Penalties to Government bodies court fees
  23. Seeds at State-owned outlets

However, few organizations stated that it is very difficult if you allow Rs old 500 notes at this time. Cellular Operations Association of India (COAI) on Thursday said Government’s decision to allow old Rs 500 notes for prepaid mobile recharges will address difficulties being faced by consumers.

Now Use Narendra Modi App to Share your Thoughts and Opinions on the Ban of Rs 500 and Rs 1000 Notes

“We are happy that Government responded to our request in the interest of customers, addressing the difficulties faced by the ordinary citizens who can continue to top up and use mobile services which are essential services,” said Rajan Mathews, COAI director.

According to the latest reports, the recharges and top-ups for prepaid mobiles have drastically fallen as consumers struggle with less liquid cash in their kitty. Now allowing old 500 notes for prepaid mobile recharges will increase the accounts for over 90 percent of the Indian mobile market.