Elearnmarkets - Financial Market Learning
  • Categories
    • Basic Finance
    • Derivatives
    • Financial Planning
    • Fundamental Analysis
    • Technical Analysis
    • Marketshala
    • Miscellaneous
  • Language
    • English
    • Hindi
    • Bengali
No Result
View All Result
  • Courses
  • Webinars
  • Go To Site
  • Login
Elearnmarkets
  • Categories
    • Basic Finance
    • Derivatives
    • Financial Planning
    • Fundamental Analysis
    • Technical Analysis
    • Marketshala
    • Miscellaneous
  • Language
    • English
    • Hindi
    • Bengali
No Result
View All Result
Webinars
Elearnmarkets - Learn Stock Market, trading, investing for Free
No Result
View All Result
Home Basic Finance
list of places to use your banned notes

Places Where You Can Still Use Your Old 500 and 1000 Rupees Notes

Elearnmarkets by Elearnmarkets
November 18, 2020
in Basic Finance
Reading Time: 2 mins read
0
141
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Soon after the introduction of demonetization scheme by the government, all banks and ATMs across the country are facing the same long serpentine queue.

Though one can still exchange the old 500 and 1000 rupees notes or banned notes with the banks till 30th December 2016 people are actually entering into a panic mode in a rush to exchange their currency.

In spite of bank being operative on Saturdays and Sundays, the problem of the long queue was still there after one-week post demonetization scheme.

With the struggle faced by banks to cope up with the huge rush to exchange currency.

RBI has introduced the new notification where the old 500 and 1000 rupees notes can still be used at certain government designated places till 24th November 2016.

Know the procedure of withdrawal and exchange of banned 500 and 1000 rupees note.

 

exchange of old notes

List of places to use your banned notes

Here’s a list of different places where can use to exhaust his/her banned notes.

1. Petrol pumps– If you have a private car, you can use the banned notes at petrol pumps and gas stations of public sector oil marketing companies like IOC, BPCL, HPCL etc.

2. Airline or railway ticket counter-The banned currencies can be used to buy tickets at railway ticket counter, airline ticket counters and public buses.

3. Utility bills– The government has also allowed making payments for your utility bill, LPG cylinders and pay for the medicine on production of doctor’s prescription.

4. Burial ground– These banned notes can be used at the burial and crematorium grounds.

5. Government hospitals– You can use the old notes/banned currencies to pay bills at the government hospitals or can buy medicines from the government-owned pharmacist

6. International airports– The foreign tourist and the passenger at the international airport who wants to exchange the foreign currency at airport can do so up to a specified limit.

7. Milk booth – You can purchase milk at milk booths and also make payment at the consumer cooperative societies using your old 500 or 1000 rupees notes.

8. Government taxes and penalties– Lastly you can use the banned notes to pay taxes, charges or any penalty of central and state government (including local bodies and municipalities).

Bottomline:

The relaxation made by the government towards utility bills is meant for the current expenses and not towards any arrear or advance payment.

Moreover, you need to show your ID proof while making the payment.

Know about the hike in the cash withdrawal limit.

Happy Learning!!

 

Tags: bankingbasicdemonetizationenglishindian economymacroeconomics
ShareTweetSend
Subscribe To Updates On Telegram Subscribe To Updates On Telegram Subscribe To Updates On Telegram
Previous Post

Market Wrap for 15th November 2016: Nifty tanked due to shortage of currency in circulation

Next Post

7 situations where you can exchange old notes

Elearnmarkets

Elearnmarkets

Elearnmarkets (ELM) is a complete financial market portal where the market experts have taken the onus to spread financial education. ELM constantly experiments with new education methodologies and technologies to make financial education effective, affordable and accessible to all. You can connect with us on Twitter @elearnmarkets.

Related Posts

Basic Finance

Face2Face Multi-Asset Trading Conclave-Bangkok

August 2, 2022
481
Capital Markets

Why you should know Multi-Asset Trading to become a successful trader?

August 11, 2022
1.5k
Basic Finance

How do Algorithms benefit the World of Stock Trading?

August 11, 2022
2.4k
Capital Markets

The formula for Penny, Small, Mid and Large Cap Investing by Mr Sandip Sabharwal

August 11, 2022
1.4k

Leave a Reply Cancel reply

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

Follow Us

Facebook-f Twitter Instagram Linkedin-in Youtube Telegram

Download App

Register on Elearnmarkets

Continue your financial learning by creating your own account on Elearnmarkets.com

Register Free Account

Get Articles On Email

Enter your email address:

Categories

  • Basic Finance
  • Derivatives
  • Financial Planning
  • Fundamental Analysis
  • Technical Analysis
  • Marketshala
  • Miscellaneous

© 2022 Elearnmarkets . All Rights Reserved

  • Visit Elearnmarkets
  • Courses
  • Webinars
  • Financial Guides
  • Get Free Counselling

Get Elearnmarkets App

No Result
View All Result
  • Article Categories
    • Basic Finance
    • Derivatives
    • Financial Planning
    • Fundamental Analysis
    • Technical Analysis
    • Marketshala
    • Miscellaneous
  • Language
    • Hindi
    • Bengali
    • English
  • Courses
  • Webinars

© 2020 Elearnmarkets All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
ELM School

LOVING OUR BLOGS?

Explore more content for free at ELM School.

Start reading & learning from various text-based modules covering all aspects of finance from today!

VISIT ELM SCHOOL