Use of Rs. 500 notes for utility bills extended; Exchange stopped
New Delhi: Extending the deadline for the third time amid a nationwide scramble for cash, the government has announced that the old currency notes of Rs. 500 would be accepted at government hospitals, petrol pumps and toll booths till December 15.
Centre also announced that the use of Rs. 1000 notes would be banned for all exemptions and no more exchange of Rs. 500 and Rs. 1,000 notes will take place from Thursday midnight.
Earlier, November 24 was the deadline for using old currency notes.
Keeping in view the problems being faced by the people all over the country, the government decided to extend the use of old currency notes of Rs. 500 at some key utilities.
- The limit of purchasing from consumer cooperative stores would be Rs. 5000.
- Fees of central and state government colleges would be paid in Rs. 500 old notes.
- Foreign citizens allowed exchanging foreign currency up to Rs. 5,000 per week via passports.