Thursday, November 17, 2016

Permissible payments with old notes till Nov. 11, 2016

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, Economic Affairs Secretary, Shaktikanta tweeted that such old notes of Rs 500 and Rs1000 would be valid till November 11, 2016 for payment of utility bill like water, electricity, etc. He further said that such old notes can also be used for payment of fees, taxes and penalties to the Central and State Govt. including Municipality and local bodies. Earlier the Govt. had allowed acceptance of old notes till November 11, 2016 for making payment for following purposes:

1) Making payments in all pharmacies on production of doctor’s prescription and proof of identity;

2) Making payments on all toll plazas;

3) For purchase of LPG cylinders;

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