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.

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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.

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