Indian Railway will stop accepting old currency of Rs. 500 and 1000 Notes by 14th November : In the wake of heavy rush and big line in front of the banks, the government increases the usage of demonetised notes of Rs 500 and Rs 1000 for the three days more at Railway ticket counter, Bus Depot, Petrol pump etc.
Central Government has banned the notes of Rs 500 and Rs 1000 on 8th November, 2016. After the 8th November, there is no use of this demonetized currency notes whereas the Indian Railways have been accepting the currency for ticketing or for on board catering or for refunding of tickets.
Indian Railway Department has accepted the use of the currency for another 72 hours which is until 14th November, 2016. The government had allowed the use of the old currency at government hospitals, railway ticketing, public transport, airline ticketing at airports, milk booths, crematoria/burial grounds, and petrol pumps for 72 hours. As the government has also extended the use of old notes for paying household utility bills, fuel, taxes and fees.
One can use the demonetised notes at the Counter of Indian Railway till 14th November midnight. Indian Railways has decided to continue this for another 72 hours because the demonetization move has attracted heavy rush at ticket counters at railway stations resulting in cash shortage.