Over the counter exchange ends: Where you can use old Rs 500 notes now
The government on Thursday extended the last date for use of the denotified Rs 500 notes till December 15, and stopped the over-the-counter exchange of cash with immediate effect.black money crackdown Updated: Nov 25, 2016 11:19 IST
The government on Thursday extended the last date for use of the denotified Rs 500 notes till December 15, and stopped the over-the-counter exchange of cash with immediate effect.
However, the banned notes will continue to be exchanged for new currency at RBI counters
According to the ministry of finance, Rs 1,000 notes would no longer be allowed to be used for the list of exemptions the government had announced. These notes can, however, be deposited in bank accounts.
The statement on Thursday also expanded the exemptions to include payment of fees up to Rs 2,000 per student in central and state government colleges as well as central government, state government, municipality and local body schools.
Following is a list of areas added or modified where the concession to use the denotified Rs 500 notes will be applicable from Thursday midnight to December 15, 2016:
- Payments towards pre-paid mobile recharges to a limit of Rs 500 per top-up
- Purchase from consumer cooperative stores limited to Rs 5,000 at a time
- Payment of current and arrear dues to utilities limited to only water and electricity. This facility will continue to be available only for individuals and households
- Foreigners will be permitted to exchange foreign currency up to Rs 5,000 per week. Necessary entry to this effect will be made in their passports.
- For payments in government hospitals for medical treatment
- For use in all 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
- For purchases at government-run milk booths
- For purchase of petrol, diesel and gas at stations of state-run oil companies
- For payments at crematoria and burial grounds
- For use at international airports for arriving and departing passengers up to Rs 5,000
- For purchase of LPG gas cylinders
- For payments towards on-board catering during travel by rail
- For purchase of tickets for suburban and metro rail travel
- For purchase of entry tickets monument maintained by the Archaeological Survey of India
- For payments towards fees, charges, taxes or penalties, payable to central or state governments including municipal and local bodies
- For payments towards court fees
- For payments towards purchase of seeds from designated state-run outlets
- The toll free arrangement at the toll plazas extended up to December 2. But after that payments can made through old Rs 500 notes till December 15