Old Rs 500 currency notes not acceptable from 15 December midnight

old500note

New Delhi, 15 Dec: The last day to spend your old note of Rs 500 has arrived as the 500 old note validity for paying utility bills or buying medicines is Thursday midnight.

This time the government has not decided to extend exemptions beyond 15 December hence the validity will be finished on 15 Dec midnight.

“Exemptions for use of old Rs 500 notes will end on 15 December midnight,” Economic Affairs Secretary Shaktikanta Das tweeted.

So from Tomorrow, mobile recharge facility with old Rs 500 notes will not be available. The only option left is that people can deposit scrapped Rs 500 currency in their bank accounts.

Invalid Rs 500 currency notes will not be acceptable at medicine shops and for paying public utility services such as payment of electricity and water bill etc.

The government had already withdrawn other relaxations as booking railway or plane tickets and payment at petrol pump and toll plaza by using the old Rs 500 notes.

While scrapping legal tender of Rs 500 and 1,000 notes on 8 November, the government had allowed them to be used for utility bill payments for the first 72 hours. This deadline was extended repeatedly and the last extension was granted till 15 December.

In between, the government withdrew use of Rs 1,000 notes for utility bill payments and discontinued use of even Rs 500 ones for services like the purchase of petrol and diesel at petrol pumps as well as buying air tickets at airport counters.

Post demonetisation, the government is promoting cashless transactions announced discount also based on digital payments.

Now petrol, railway tickets and insurance policies of PSU companies will give discount on all the payments done through debit/credit cards or other digital modes. The government also waived service tax for payments up to Rs 2,000 made through cards and decided to do away with transaction fee for payment to the central government departments and PSUs.

 Wefornews Bureau

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