The Indian Government has changed the deadline for using old currency notes of Rs. 500 for the purpose of purchasing airline tickets at the airport counters as well as paying for petrol, diesel and gas at the stations which come under the authority of public sector oil marketing companies. Earlier the deadline was Dec 15 but now it has been cut short to Dec 2.
However, these old notes can still be used till Dec 15 for paying other utility bills in addition to buying bus and railway tickets.
Earlier the government also announced that toll payments can be done by old notes of Rs. 500 and Rs. 1,000 till Dec 2 and from Dec 3, only Rs. 500 notes can be used for the purpose but now this facility has also been withdrawn.
So from Dec 3, be ready with currency notes of small denomination or new notes of Rs. 500 and Rs. 2000 to make payments for fuel, air tickets and toll tickets.
It is being said that the government has come up with these changes as exemptions are halting the new currency from reaching the public. A source told Indian Express,
“Wherever old currencies are allowed, some are using them just to change the old currencies into new. For example, the new currencies from the customers in petrol pumps do not reach the bank. Instead they go to those who want to convert.”
The source further added,
“At one point you will have to stop this to ensure smooth circulation of the legally tendered currencies. There is a suggestion that all exemptions should be stopped because an average citizen is not getting the new currencies.”
The government has no plans of extending the deadline of Dec 30 for depositing the old currency notes of Rs. 500 and Rs. 1000 in bank.
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