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Demonetization of currency: Validity of old 500 Rs and 1000 Rs notes is Extended Upto 2 December, 2016

Demonetization of currency: After the proclamation of Demonetisation policy, the 500 and 1000Rs. notes became just a scrape. The government has now taken some more steps as they have cut short the deadline of using old Rs 500 notes at the petrol pumps and also for buying airline travelling tickets at airports till December 2 instead of December 15, as it was announced earlier.

Now, this would make an important remark in the Indian history as because of the effect from December 3, 2016, the old 500Rs. notes can’t be used for purchasing the petrol, diesel and gas at the stations operating under authorization of public sector oil marketing companies and for buying airline tickets at airport counters, as the government notification said.While junking the old 500 and 1,000Rs. notes on November 8, the government had at least allowed their use for the utility bill payments for 72 hours.

Old 500 Rs and 1000 Rs notes are Not Valid for Paying Bills after 2 December 2016:

This deadline was indeed procrastinated twice and when the last one was about to expire on November 24, it was amended it to state that only the old 500Rs. notes could be used for payments of utility bills like electricity and water, school fees, pre-paid mobile top-up, fuel purchase and airline ticket booking etc.

Though the old notes will continue to be accepted for the other utility bill payments as well as at the railway ticketing counters and the counters of government or public sector undertaking the buses for the purchase of the bus tickets till December 15, it would be discontinued for the purchasing of fuel and airline tickets at airport counters. Not only this, but the government has also dropped the earlier announced plan that would allow using the 500Rs. notes for the payment of toll tax at the national highways from December 3.

The Toll Tax payment in both old 500 and 1,000 rupee notes would have been accepted until December 2 and from December 3 it would be limited to 500 rupee notes. But now as the government is getting strict with its policy this facility to has been withdrawn. So from now, means from December 3, fuel purchase, airline ticket booking at airport counters and the highway toll payment would be allowed only in the new 500 and 2,000 rupee notes.

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