The Government of India recently withdrew the legal validity of Rs 500 and Rs 1,000 currency notes. This means that all Rs 500 and Rs 1,000 notes with you in hand become invalid with effect from November 8th, 2016. Therefore, you cannot do any transaction with both of these currency notes.
However, the Government has allowed certain payments till November 24th, which you can do with your Rs 500 and Rs 1,000 currency notes:
- for making payments in Government hospitals for medical treatment and pharmacies in Government hospitals for buying medicines with doctor’s prescription;
- at railway ticketing counters, ticket counters of Government or Public Sector Undertakings buses and airline ticketing counters at airports for purchase of tickets;
- for purchases at consumer cooperative stores operated under authorisation of Central or State Governments and the customers shall provide their identity proof;
- for purchase at milk booths operating under authorisation of the Central or State Governments;
- for purchase of petrol, diesel and gas at the stations operating under the authorisation of Public Sector Oil Marketing Companies;
- for payments at crematoria and burial grounds;
- at international airports, for arriving and departing passengers, who possess specified bank notes, the value of which does not exceed five thousand rupees to exchange them for notes having legal tender character;
- for foreign tourists to exchange foreign currency or specified bank notes, the value of which does not exceed five thousand rupees to exchange them for notes having legal tender character.
- for making payments in all pharmacies on production of doctor’s prescription and proof of identity;
- for payments on purchases LPG gas cylinders;
- for making payments to catering services on board, during travel by rail;
- for making payments for purchasing tickets for travel by suburban and metro rail services;
- for making payments for purchase of entry tickets for any monument maintained by the Archaeological Survey of India.
- for making payments towards any fees, charges, taxes or penalties, payable to the Central or State Governments including Municipal and local bodies;
- for making payments towards utility charges including water and electricity -which shall be restricted to individuals or households for payment of only arrears or current charges and no advance payments shall be allowed