-So from midnight today that is November 24 your old Rs 500, Rs 1000 notes won't be accepted in petrol pumps, government hospitals etc.
So from midnight today that is November 24 your old Rs 500, Rs 1000 notes won’t be accepted in petrol pumps, government hospitals etc. Don’t panic! You have the option of going to the bank and getting the notes exchanged till December 30. After that you will have to go to the Reserve Bank of India (RBI) for currency exchange. Government can make an announcement today that the deadline for exchanging notes will be further extended, says a Dainik Bhaskar report. At present you can use your old Rs 500, Rs 1000 notes at petrol pumps, governmnet hospitals, for purchasing metro, railway and air tickets, Mother dairy, public transport, for paying water, electricity bill, cemeteries, railway catering, buying tickets of monuments.
Yesterday, the government decided that no service charge will now be levied for use of debit cards. Department of Economic Affairs Secretary Shaktikanta Das said that till December 31, 2016, no service charges will be levied on debit cards and that the move is meant to ensure greater penetration of digital transaction. Also, the balance that can be kept in prepaid wallets and cards was doubled to Rs 20,000. The Reserve Bank of India also said merchants can transfer up to Rs 50,000 per month from these so-called semi-closed prepaid payment instruments to their bank accounts. The relaxation will be applicable until December 30, the RBI said.
[Via: The Financial Express]
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