Friday, November 25th, 2016

Exchange of old notes ends, but you can use Rs 500 notes still in these places

Narada Desk | November 25, 2016 11:59 am Print
The government also said that the exchange of old notes will be allowed at the Reserve Bank of India (RBI) counters
File : Rs 500 note , Now history

The Government of India on Thursday notified that old Rs 1000 and Rs 500 currency notes will be completely banned from being exchanged over the counter from Thursday midnight. People can only deposit banned notes in their accounts and withdraw new currency from ATMs or through cheques.

However, the centre has extended the use of old 500 notes in several places including for making payments in public utilities till December 15. The government also said that exchange of old notes will be allowed at the Reserve Bank of India (RBI) counters.

See where all you can use the banned Rs 500 notes now:

  • For paying fees up to Rs. 2,000 per student in schools under the central and state governments, municipality and local bodies. Payment of fees in central or state government colleges
  • Payments towards pre-paid mobile top-up to a limit of Rs. 500 per top-up
  • Payment at toll plazas in national highways and petrol pumps
  • Payments in government hospitals for medical treatment
  • For the use in pharmacies for buying medicines with doctor’s prescription
  • At railway ticketing counters, bus ticket counters of government or public sector undertakings and airline counters at airports for purchase of tickets
  • Payments towards on-board catering during travel by rail
  • For purchases at consumer cooperative stores operated under authorisation of central or state governments with identity proof
  • For purchases at milk booths under central or state governments
  • For payments towards court fees
  • For payments towards purchase of seeds from designated state-run outlets, but only Rs 500 notes
  • Withdrawal from district central cooperative banks up to Rs 24,000 per week
  • For purchasing LPG gas cylinders
  • Payment of current and arrear dues to utilities will be limited to only water and electricity
  • Payments towards fees, charges, taxes or penalties, payable to central or state governments including municipal and local bodies.
  • For foreign tourists to exchange foreign currency up to Rs 5,000

 

 

YOU MIGHT ALSO LIKE
Loading...