Huge and long Queues can be seen in front of every bank all over India. People are worried about the exchanging their old Indian Currency Rs 500 and Rs 1000 Notes. An Effective and easy way to change your Notes is here, and of course, it is legal too.
After the historic decision made by the Indian Prime Minister to ban Rs 500 and Rs 1000 Notes, the Government is taking various steps to avoid inconvenience to the common man. As the purpose of this ban is to demolish the fake currency and bring out the black money.
Ban on Rs 500 and Rs 1000 Notes: Pros and Cons of the Move
The government now allows people to pay fees, charges, taxes, penalty to Central & State governments including Municipalities and Local Bodies. Earlier the Central Government had exempted the toll tax all over India for two days.
Central Economic Affairs Secretary Mr. Shaktikanta Das had tweeted that “ Old 500 & 1000 notes to be accepted for payment of fees, charges, taxes, penalty to Central & State Govt including municipalities, local bodies.”
Old 500 & 1000 notes to be accepted for payment of fees,charges,taxes,penalty to Central & State govts including municipalities,local bodies
— Shaktikanta Das (@DasShaktikanta) November 10, 2023
It is known that the NDA government had allowed the old banned currency of Rs.500 and Rs.1000 notes for services like petrol stations, hospitals, medicines and burial grounds.
He also mentioned that the above would be only valid until the midnight of 11-11-2016, i.e., Friday midnight.
How to Exchange Notes Rs.1000 and Rs.500 Explained in Detail
All the Banks are giving new Rs.500 and Rs.2000 notes as per RBI norms. So the situation will be back to normal within a short period.
So why wait to Pay all your bills using the banned Rs.500 and Rs.1000 notes until the mentioned time.
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