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Old Rs 500, Rs 1,000 notes can be utilized for utility payments

New Delhi, Nov 10, 2016: Old Rs 500, Rs 1,000 notes can be utilized for utility payments. Old Rs 500 and Rs 1,000 notes can be utilized by individuals in direction of making cost for utility companies like water and electrical energy until November 11 midnight, the Finance Ministry stated on Thursday.

Old Rs 500, Rs 1,000 notes can be utilized for utility payments.

“Such outdated notes to be accepted for cost of utility expenses like water and electrical energy until November 11 midnight. Records to be maintained,” Economic Affairs Secretary Shaktikanta Das mentioned in a tweet.

The previous Rs 500 and 1,000 notes may even be accepted for cost of charges, expenses, taxes, and penalty to central and state governments, together with municipalities and native our bodies, Das tweeted as Old Rs 500, Rs 1,000 notes can be utilized for utility payments.

The government demonetised Rs 500 and Rs 1,000 notes efficient November eight midnight. However, it introduced, these notes shall not stop to be authorized tender until November 11 for offering public comfort in finishing up sure emergency and pressing transactions.

A authorities notification had earlier mentioned that the previous Rs 500 and Rs 1,000 notes can be utilized for making funds in authorities hospitals, pharmacies in authorities hospitals, at railway ticketing counters, ticket counters of presidency or public sector endeavor buses and airline ticketing counters at airports for buy of tickets until November 11 when Old Rs 500, Rs 1,000 notes can be utilized for utility payments.

The notification of the Department of Economic Affairs, Ministry of Finance, acknowledged that these notes can be utilized “for purchases at client cooperative shops operated below authorisation of the central or state governments, for buy at milk cubicles working underneath authorisation of the central or state governments, for buy of petrol, diesel and fuel on the stations working beneath the authorisation of public sector oil advertising corporations, and for funds at crematoria and burial grounds” as Old Rs 500, Rs 1,000 notes can be utilized for utility payments.

New Post has been published on http://www.futurepostmagazine.com/withdrawing-rs-500-rs-1000-notes-surgical-strike-black-money-finmin/

Withdrawing Rs 500, Rs 1,000 notes surgical strike on black money: FinMin

New Delhi, Nov 8 The Union Finance Ministry on Tuesday said the move to withdraw Rs 500, Rs 1,000 currency notes is the biggest “surgical strike” by the government to curtail black money in the economy.

“This is the biggest and the boldest step by the government for containing black money. It is like a surgical strike on black money,” tweeted Revenue Secretary Hasmukh Adhia.

Prime Minister Narendra Modi, in a sudden address to the nation on Tuesday, announced that Rs 500 and Rs 1,000 denomination notes are being withdrawn from midnight and will now become “mere paper”.

Modi said this was being done to tackle the menace of black money in the country, which has sapped the economy.

The Prime Minister said that the Rs 500 and Rs 1,000 denomination notes can be deposited in banks and post offices, and also exchanged across the bank counter by showing government-issued ID proof.