We all are well known about Government Declaration about currency Notes of Rs. 500 and Rs. 1000 that these notes are surrender and these are exchange at any branch of a Bank or Post Office.
However, Economic Affairs Secretary, Shaktikanta tweeted that such old notes of Rs 500 and Rs 1000 would be valid till November 11, 2016 for payment of utility bill like water, electricity, etc. He further said that such old notes can also be used for payment of fees, taxes and penalties to the Central and State Govt. including Municipality and local bodies.
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 8th November, 2016
S.O. 3408(E).—Whereas, by the notification of the Government of India in the Ministry of Finance, vide F. No. 10/3/2016-Cy.I dated 8th November, 2016 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), dated the 8th November, 2016, the Central Government declared that the bank notes of existing series of denomination of the value of five hundred rupees and one thousand rupees (hereinafter referred to as the specified bank notes), shall cease to be legal tender on and from the 9th November, 2016;
And whereas, it has become necessary to notify certain exemptions for the convenience of the members of public in carrying out certain emergent and urgent transactions using the specified bank notes; Now, therefore, in exercise of the powers conferred by sub-section (2) of section 26 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Government hereby declares that the specified bank notes shall not be ceased to be legal tender, with effect from the 9th November, 2016 until the 11th November, 2016, to the extent of transactions specified below, namely:—
(a) for making payments in Government hospitals for medical treatment and pharmacies in Government hospitals for buying medicines with doctor's prescription;
(b) at railway ticketing counters, ticket counters of Government or Public Sector Undertakings buses and airline ticketing counters at airports for purchase of tickets;
(c) for purchases at consumer cooperative stores operated under authorisation of Central or State Governments;
(d) for purchase at milk booths operating under authorisation of the Central or State Governments;
(e) for purchase of petrol, diesel and gas at the stations operating under the authorisation of Public Sector Oil Marketing Companies;
(f) for payments at crematoria and burial grounds;
(g) at international airports, for arriving and departing passengers, who possess specified bank notes, the value of which does not exceed five thousand rupees to exchange them for notes having legal tender character;
(h) for foreign tourists to exchange foreign currency or specified bank notes, the value of which does not exceed five thousand rupees to exchange them for notes having legal tender character.
2. All establishments referred to in paragraph 1, shall maintain complete account of record of stock and sale of transactions made with the specified bank notes during the period between 9th November, 2016 and 11th November, 2016.
[F. No. 10/03/2016-Cy. I]
Dr. SAURABH GARG, Jt. Secy.
And
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 9th November, 2016
S.O. 3416(E).—In exercise of the powers conferred by sub-section (2) of section 26 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Government hereby amends the notification of the Government of India, Ministry of Finance, Department of Economic Affairs number S.O. 3408(E) dated the 8th November, 2016 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) dated the 8th November, 2016, namely:-
1. In the said notification, in paragraph 1, after clause (h), the following clauses shall be inserted, namely :-
“(i) for making payments in all pharmacies on production of doctor’s prescription and proof of identity;
(j) for making payments on all toll plazas on the State and National Highways;
(k) for payments on purchases LPG gas cylinders;
(l) for making payments to catering services on board, during travel by rail;
(m) for making payments for purchasing tickets for travel by suburban and metro rail services;
(n) for making payments for purchase of entry tickets for any monument maintained by the Archeological Survey of India.”.
[F. No. 10/03/2016-Cy.I]
Dr. SAURABH GARG, Jt. Secy.
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