Bengaluru: Deadline for Rs 500 notes end

Rs 500 denomination will not be accepted even for paying government utility bills from Friday onwards.

Bengaluru: The recently demonetised currency note of Rs 500 denomination will not be accepted for paying government utility bills from Friday onwards.

According to a RBI release, till Thursday midnight these notes will be accepted during hospitalisation, for buying life saving medicines, provisions at consumer cooperative stores operated by Central or State Governments, at milk booths operating under authorisation of the Central or State Governments, for payments at crematorium and burial grounds, pharmacies on production of doctor’s prescription and proof of identity, for LPG gas cylinders.

The demonetised currency was also accepted while buying entry tickets for any monument maintained by the Archaeological Survey of India, for making payments towards any fees, charges, taxes or penalties, payable to the Central or State Governments including Municipal and local bodies, for making payments towards utility charges for water and electricity, for payments towards court fees, for making payments towards purchase of seeds from the centres, units or outlets belonging to the Central or State Governments.

According to the RBI officials, they are confident of re-issuing new Rs 500 denomination notes at the earliest to ease the cash crunch and long queues before banks and ATMs.

According to RBI officials, specified bank Notes can be deposited in cash deposit machines, cash recyclers or at bank branches more than once till December 30.

( Source : Deccan Chronicle. )
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