Demonetisation: Govt extends usage of old Rs 500 notes till December 15, makes Rs 1000 invalid for payments

Zee Media Bureau

New Delhi: Government has extended date for usage of old notes for payment in public utilities till December 15. 

Central Government has decided that there will be no over the counter exchange of old Rs 500 and Rs 1000 notes after midnight today. However, Rs 1000 notes will no longer be valid.

Certain other exemptions relating to cancelation of legal tender character of old Rs 500 and Rs 1000 notes have been extended including payment of current & arrears dues to utilities which will be limited to only water and electricity.

Foreign citizens will be permitted to exchange foreign currency up to Rs.5,000 per week.Entry to this effect will be made in their passports.

Toll payment at toll plazas can be made via old Rs 500 notes from December 3 to December 15 as toll free arrangement continues up to 2nd December.

Highlights

It has been decided that all these exemptions, with the additions and modifications as detailed below, may be continued for a further period from the midnight of November 24 up to and inclusive of December 15:-

 

(a)    Payments for the transactions under all the exempted categories will now be accepted only through old Rs. 500 notes;

 

(b)   Payment of School fees up to Rs. 2000 per student in Central Government, State Government, Municipality and local body schools;

 

(c)    Payment of fees in Central or State Government colleges;

 

(d)   Payments towards pre paid mobile top-up to a limit of Rs 500 per top-up;

 

(e)    Purchase from Consumer Cooperative Stores will be limited to Rs 5000 at a time;

 

(f)    Payment of current and arrear dues to utilities will be limited to only water and electricity.  This facility will continue to be available only for individuals and households;

 

(g)    Considering that the Ministry of Road Transport and Highways have continued the toll free arrangement at the toll plazas up to December 2, it has been decided that toll payment at these toll plazas may be made through old Rs 500 notes from December 3.12.2016 to December 15.

 

(h)            Foreign citizens will be permitted to exchange foreign currency up to Rs 5000 per week.  Necessary entry to this effect will be made in their passports.  (Necessary instructions in this regard will be issued by the RBI.)