23 different possible ways to utilize Demonetization currency notes of Rs 500 & Rs 1000

Spread the love
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
The Demonetization of Rs.500 and Rs.1000 banknotes was a policy enacted by the Government of India on 8 November 2016.The Indian Government has stopped over the counter exchange of old currency notes of the demonstration of Rs. 500 & Rs 1000 from 24-Nov-2016 midnight. However, Government has permitted certain transactions & activities where payments can still be legally made in old currency of Rs. 500 notes only. Please note that Rs. 1000 denomination notes will be accepted only as deposit in Bank Accounts & no where else.
 

Utilize Demonetization currency notes of Rs 500 & Rs 1000

 

Sr. No.
Nature of Transaction
Monetary Limit
Validity
1
Prepaid mobile Top-Ups
Max. 500/ Top Up
till 15-Dec-2016
2
Purchase from Co-Operative
Stores
Rs 5000 at a time
till 15-Dec-2016
3
Fees Payment in Central or State
Government Colleges
No Limit
till 15-Dec-2016
4
Foreign Currency Exchange for
Foreign Citizens
Rs 5000/ week. Necessary entry to this effect will be made in
their passports
till 15-Dec-2016
5
Power and Water Bills
No Limit. Only Current and
Arrears dues can be accepted.
Facility available to Individuals and Households only.
till 15-Dec-2016
6
Toll Payment at Toll Plaza
No limit
03-Dec-16 to 15-Dec-2016
7
Payment of School Fees in
Central, State, Municipality and
Local body Schools
Rs. 2000/ per Student
till 15-Dec-2016
8
Government Hospitals
No limit
till 15-Dec-2016
9
Railway Tickets
No limit
till 15-Dec-2016
10
Public Transport
No limit
till 15-Dec-2016
11
Airlines Tickets at Airports
No limit
till 15-Dec-2016
12
Milk Booths
No limit
till 15-Dec-2016
13
Burial/ Crematoria Grounds
No limit
till 15-Dec-2016
14
Petrol Pumps
No limit
till 15-Dec-2016
15
Metro Rail Tickets
No limit
till 15-Dec-2016
16
Chemist Shops
No limit on Medicines prescribed by Doctor.
till 15-Dec-2016
17
LPG Gas Cylinder
No limit
till 15-Dec-2016
18
Railway Catering
No limit
till 15-Dec-2016
19
Entry Tickets at Museums
No limit
till 15-Dec-2016
20
Taxes to Government
No limit
till 15-Dec-2016
21
Penalty to Government
No limit
till 15-Dec-2016
22
Court Fees
No limit
till 15-Dec-2016
23
Deposit of old Rs 500 & Rs 1000 demonetization notes in bank
accounts maintained at Banks/
Post Offices
No Limit
till 30-Dec-2016
24
Exchange of old notes at Bank
Counter / Post Offices
BANNED
with effect from 24-Nov-16 Midnight.


The government claimed that the demonetization was an effort to stop terrorism, as well as a crackdown on black money in the country. The move was described as an effort to reduce corruption, the use of drugs, and smuggling. However, in the days following the demonetization, banks and ATM’s across the country faced severe cash shortages. The cash shortages had detrimental effects on a number of small businesses, agriculture, and transportation, while people seeking to exchange their notes had lengthy waits, and several deaths were linked to the rush to exchange cash.

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: