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, 2023 midnight.

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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.

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“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.


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