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Know where you can use old Rs 500 notes from today

Currently reading: Know where you can use old Rs 500 notes from today
India TV Business Desk, New Delhi [Published on:25 Nov 2016, 8:52:09]

Exchange of old currency notes of 500 and 1,000 rupees over the counter has been stopped but people can deposit old notes in their bank accounts upto December 30.

The government has, however, allowed foreign citizens to exchange foreign currency upto 5,000 per week. The entry to this effect will be made in their passports.

"There will be no exchange of old Rs 500 and Rs 1,000 notes after midnight of November 24," the government said on Thursday evening. 

But it extended the use of old Rs 500 notes at petrol pumps, government hospitals and other public utilities till December 15. The banned 1,000 rupee note can now not be used at these utilities, but it can be deposited in bank accounts.

Know where you can still use scrapped Rs 500 notes:

* Payment of school fees up to Rs 2,000 per student in central government, state government, municipality and local body schools.

* 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.

* Purchases at milk booths under central or state governments.

* Purchases at consumer cooperative stores operated under authorisation of governments with identity proof (Safal, Mother Dairy) up to Rs 5,000 at a time.

* Payments at crematoria and burial grounds.

* Purchase of LPG gas cylinders.

* Payment at toll plazas from December 2 to December 15.

* Petrol pumps, LPG stations to accept old Rs 500 notes till December 15.

* Payment of current and arrear dues to utilities will be limited to only water and electricity.

* Payments in government hospitals for medical treatment. 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.

* Use at international airports for arriving and departing passengers up to Rs. 5,000.

* Payments towards on-board catering during travel by rail.

* Purchase of tickets for suburban and metro rail travel.

* Purchase of entry tickets monument maintained by the Archaeological Survey of India.

* Payments towards utility charges including water and electricity, but no advance payments.

* Payments towards court fees.

* Payments towards purchase of seeds from designated state-run outlets.

File pic - A man counts now scrapped Rs 500 notes - India Tv
File pic - A man counts now scrapped Rs 500 notes