Tomorrow is your last day to use scrapped Rs 500 notes and with this amusement for use at petrol pumps, and LPG centers, also toll plazas and for paying public taxes will proceed to an end.
Thursday, December 15, is the latest day for nationals to use old Rs 500 notes at allowed utilities, including toll corners, control firms, LPG outlets and for paying government charges. The phaseout of the old money will accordingly be finished. Consequently, the old arrangement must be stored in one’s ledger till December 30 or traded at the RBI until March 31.
A bank chief from Andheri brought up that the utility of this old Rs 500 arrangement had, truth be told, stopped well before Thursday’s legitimate due date.
After the administration put an untimely end on old Rs 1,000 notes as lawful delicate November 24, individuals started to experience tension over the old Rs 500 note also. The moving standards have incited individuals to store every single old note in a rush.
They are unwilling to hazard clutching them, even to trade them at toll corners or for transportation, for fear that they get to be distinctly useless bits of paper.
Executive Narendra Modi on November 8 banned utilization of Rs 500 and Rs 1,000 in an attack against dark money, debasement, and fake cash and presented new Rs 2,000 and Rs 500 notes.
Individuals holding notes of Rs 500 and Rs 1000 were permitted to store the same in their bank and mail station accounts from November 10 till December 30. Apparently, there were 6.7 billion bits of Rs 1000 notes available for use and 16.5 billion bits of Rs 500.
Individuals who are not ready to store their old Rs 500 or Rs 1000 notes by December 30, 2016, for reasons unknown it might concern, they can go to indicated workplaces of the RBI up to March 31, 2017, and store the notes in the wake of presenting a presentation shape.
In any case, all notes in the lower category of Rs 100, Rs 50, Rs 20, Rs 10, Rs 5, Rs 2 and Re 1 and all coins keep on remaining substantial. The demonetisation drive had brought about a great deal of bother to individuals with long lines at the ATMs and banks.
Money crunch still keeps on influencing the general public with most ATMs either close down or without money. Despite the fact that lines have turned out to be shorter, individuals can be seen sitting tight for money outside ATMs.
