You can buy fuel and air tickets with old 500 rupee notes only till tomorrow

By - Research Team     01 December 2016

From tomorrow, December 2nd 2016, you can no longer use old 500 rupee notes at petrol pumps and for buying air tickets at airports. From 3rd December 2016, old 500 rupee notes, cannot be used for purchasing petrol, diesel and gas at petrol pumps. You cannot use these old notes for buying air tickets at airport counters.

While the government scrapped 500 and 1000 rupee notes on 8th November 2016, midnight, old 500 and 1000 rupee notes were allowed to be used for paying utility bills, for 72 hours after this deadline. This deadline was further extended till November 24th 2016. The government then passed an amendment saying, only old 500 rupee notes and not 1000 rupee notes, could be used for the payment of utility bills like electricity and water, school fees, fuel purchases and airline booking, till December 15th 2016.

Now, the Government has said that old 500 rupee notes, cannot be used for purchasing fuel and airline tickets, after December 2nd 2016. Old 500 rupee notes, will continue to be accepted for the payment of other utility bills and at the railway ticketing counters. Government has also withdrawn the facility of using old 500 rupee notes, for the payment of highway toll at all national highways, from 3rd December 2016.  Highway toll plazas and petrol pumps where being misused, to launder black money. From 3rd December 2016, only low denomination or new 500 and 2000 rupee notes, can be used for fuel purchase, airline ticket booking and highway toll payment. Be Wise, Get Rich.



Under : Financial Planning