After The demonetization of old 500 and 1000 rupee notes there is urgency in the country. Whole country is facing the problem of Cash. We want to know that where to use old 500 rupee notes after demonetisation. In India there is cash transaction of about 97% and above that people are pond of holding the Cash in Hand.
Everyone is searching for the alternatives of Exchange of 500 and 1000 rupee note. But after 24th November Rs. 1000 will only be submitted into banks. 500 rupee note will be accepted at many places.
I know you must want to know how to exchange old 500 rupee note or how to convert old 500 rupee note into valid currency after Demonetization Process.
Current Biggest Problem is that there is no exchange of Money now. It can only be deposited in Banks. But there is a chance to use you old 500 rupees note.
Govt of India had announced that there will be no exchange of old 500 and 1000 rupee notes from 25th November.
But one can use old 500 rupees not at following Places
- You can pay these to toll Plaza
- All petrol pumps will accept the old 500 rupee notes till 15th December after demonetization in India.
- Government school fee can be deposited with these notes up to a Limit of Rs. 2000.
- You can also pay college fees of states University.
- Use old 500 rupee notes for court fees.
- Make Pre paid Mobile recharges up to Rs 500
- Now you can purchase groceries from co-operative stores under State and Central govt. Limit of such transaction is once rupees 5000 only. This will be a great relief after demonetisation.
- Pay Railway tickets booking at railway station counters.
- All government Hospitals will accept the old currency.
- Water Bill and electricity Bill payment can be adjusted. This will be a place to use old 500 rupee notes after demonetisation in India.
- Buy Medicines from Medical Stores with qualified doctor's prescription.
- May not any one have to use at this place but one can use old 500 rupee notes at crematorium grounds.
- Make Payment against LPG cylinders.
- Payments towards charge, duty or penalty to be paid to governments as well as municipal with local bodies.
- You can also use old 500 rupee notes to buy of seeds from nominated state-owned outlets.
With a great step towards Cashless economy and to fight with black money government has introduced Demonetization with a Positive thinking. But there are both advantages & Disadvantages of Demonetization discussed earlier. In my opinion government is giving ample space to use the old 500 rupee notes after demonetisation.