Seeing the problems faced by millions of Indians in long queues outside banks and ATMs, Modi government has extended the date of currency use till November 24.
Following a late night meeting with fellow BJP leaders in the wee hours of Monday, Indian PM Modi directed specific sectors to extend the date of accepting old Rs. 1000 and Rs, 500 notes till November 24. This decision was taken after reviewing the impact of demonetisation implemented from the midnight of November 8.
Several citizens across the nations struggled to cope with rush at banks and ATM machines, in an attempt to get alternative currency for use. Hundreds of them expressed their discomfort at paying household utility bills, fuel, taxes and purchase made at stores. Seeing their distress, government had permitted the use of old currency for 72 at following locations.
Railway and Airline ticket counter,
Public transport fees,
Railway ticketing,
Government hospital,
Milk booths,
Petrol Pumps,
Ceremonial/Burial grounds
Now, a few more locations have been added to this list, such as:
Metro rail ticket,
Public and Private pharmacies,
Highway tolls,
Railway catering,
Water and electricity bills,
Court Fees,
LPG gas cylinders and
ASI monument entry tickets.
While briefing the ANI regarding currency denomination, Shktikanta Das (Economic Affairs Secretary) made this information public.
Not only this, customers can also use this money to purchase groceries and toiletries from Kendriya Bhandar and other such co-operative stores. They’ll have to produce a valid ID proof at the time of making purchases. However, this extension is applicable in case of individuals and households. Advance payment of bills will not be allowed.
Major Announcements Made by Finance Minister Jaitley
Finance Minister has made some important announcements regarding exchange of Rs. 500 and Rs. 1000 rupees note. Here are important highlights from his speech.
Cash withdrawal limit of ATMs will be hiked from Rs. 2,000 to Rs. 2,500.
New withdrawal limit at banks is Rs. 4,500.
Account holders can withdraw up to Rs. 24,000 per week and maximum Rs, 10,000 per day.
Prices of daily commodities like salt and sugar didn’t go up. It’s just some people have taken advantage of this situation.
Having said that, the finance ministry is reviewing cash supply and demand across several ATMs, post offices and banks in the country. More notes are being minted and supplied to the said locations to help out people.
