The government on Friday extended the use of old Rs 500, Rs 1000 notes for paying public utility bills by another 72 hours till November 14. While announcing a ban on the old Rs 500 and Rs 1000 notes, the Narendra Modi government had laid out a few exemptions where the old currency may be used.
Till Friday midnight, you can also use the old notes to recharge your metro card. You could also use them to fill up your oil tanker in your cars, at government hospitals and pharmacies, rail tickets counters.
International airports are also providing the facility of exchanging old notes for foreign tourists and those going to foreign nations.
Meanwhile, here are a few things you might want to know before standing in the ATM/bank queue
1) A few months back, the banks had decided to levy a surcharge on the use of ATMs beyond 5 transactions. However, with the PM’s decision, the surcharge has been waived till further orders.
2) Charges levied to deposit cash into one’s accounts have also been waived for now
3) It will take some time for the ATM operations to normalise. For now, cash will only be dispensed in the denomination of Rs 100.
4) The ATMs will not allow you to enter an amount beyond Rs 2000. If you need more money, you can approach the bank
5) Even in the banks, you can withdraw Rs 10,000 per day and a maximum of Rs 20,000 per week.
6) But when exchanging notes, you can take back only Rs 4,000 in cash
7) For public convenience, banks will remain open on coming Saturday and Sunday
The scheme to exchange the old currency closes on December 30, 2016. Those who are unable to exchange their notes by then will be able to do so at some RBI offices.
