The Centre on Thursday extended the usage of old Rs 500 notes for payment of public utility bill till December 15, but people cannot exchange the banned notes any longer.
The government also extended the suspension of toll collection on all national highways till December 2 midnight.
In a shock announcement on November 8, Prime Minister Narendra Modi said that Rs 500 and 1,000 banknotes would be withdrawn from circulation in a bid to crack down on corruption and counterfeit currency .
However, a string of measures has` been deployed to mitigate public inconveniences resulting from the ban on the two high-value banknotes, which accounted for 86% of the currency in circulation in the country.
People are allowed to make ATM cash withdrawal up to Rs 2,500 per day and Rs 2,000 from select fuel pumps of state-owned oil companies. A savings account holder could withdraw up to Rs 24,000 per week from banks. While current account holders can withdraw up to Rs 50,000 a week, provided it has been in operation for at least three months.
Source:- Hindustan Times.
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