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Last day today to use demonetised notes

deposit of old notes

New Delhi: Adding to the complications to the people in dealing with the scrapped notes of Rs 500 and Rs 1000 today is the last day to use the demonetised notes in the country. From mid-night of Thursday, the notes will not be accepted for paying any utility bills. People can only deposit the old 500 and 100 rupee notes in their personal accounts at bank branches.

Earlier, the centre had withdrawn the facility to use the old notes at petrol pumps from the midnight of December 2. But the decision was taken aback and it was extended till December 15. It had allowed use of old Rs 500 notes for a string of activities up to December 15 midnight including, making payments in government hospitals for treatment and pharmacies, for buying medicines with doctor’s prescription, for purchase at milk booths operating under central or state governments, for mobile recharge, payments at crematoria and burial grounds.

The government had earlier withdrawn some of the relaxations such as booking railway or plane tickets using old Rs 500 notes. It had allowed the use of old 500 and 1000 rupee notes for some specified activities for 72 hours after it had announced the cancellation of the legal tender status on November 8. The deadline was further extended to December 15 later on.

Individuals holding notes of Rs 500 and Rs 1000 were permitted to deposit the same in their bank from November 10 till December 30. It was also announced by the government that those individuals who could not deposit their old notes by December 30, 2016 for some reasons can go to the indicated workplaces of the Reserve Bank of India (RBI) up to March 31, 2017 and store the notes.

However, currency in the lower denominations of Rs 100, Rs 50, Rs 20, Rs 10, Rs 5, Rs 2 and Re 1 and all coins remains substantial.

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