Thursday, November 17, 2016

Govt. extends validity of demonetized currency till Nov. 14, 2016 for payment of utility bills, etc.

As the Government has declared that currency notes of Rs. 500 and Rs. 1,000 denominations will not be valid from midnight of November 8, 2016, citizens will have to surrender the old notes at any branch of a bank or post office to get the new notes.

However, Govt. had notified that such demonetized currency would be valid till Nov. 11, 2016 for certain payments like utility bills, Petrol, diesel, LPG Cylinder, etc. Now the Govt. has extended the validity of such currency till Nov. 14, 2016 for payment of utility bills, etc. However, the Govt. had put a rider that payment of utility bills with demonetized currency can be made only by Individuals or households. Further, only arrears or current charges of utility bills can be paid with such currency and no advance payment shall be allowed.

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