Only one day left for using old Rs 500, Rs 1000 notes

Mumbai: People who still hold Rs 500 and Rs 1,000 currency notes with them should hurry and dispose off the old high value notes as today is the last day for using them at select outlets.

After today, people may not be able to use the physical notes at any outlets if the government decides against giving any more extensions. However, the government on Wednesday told the Supreme Court that it may give yet another extension if it thinks it was required.

The old high value notes were banned on November 8 with an aim to eradicate black money from circulation and stop spread of fake currency notes in the banking system.

The government had allowed first till November 11 the use of discarded Rs 500 and Rs 1,000 currency notes at hospitals, for booking rail tickets, to pay for LPG cylinders, at petrol pumps, for paying bills at crematorium and burial grounds and public dues like taxes and penalties.

After that the government extended the deadline twice first till November 14 and second to till November 24 as banks still grappled with massive workload and people in large numbers queued up in long lines.