Prime Minister Narendra Modi’s demonetisation scheme, which deemed Rs 500 and Rs 1,000 banknotes invalid, turned the entire nation upside down. Considering the public response, the Prime Minister had permitted the use of the old notes at public utilities. The directive only stands until November 24, which is today.
Since the public doesn’t seem to be at ease with the sudden change even after two weeks as there is no relief. Consequently, it is expected of the Modi government to push the deadline back even further. People still struggle to get their currency changed as the queues outside banks and ATMs seem to extend for miles. And if you do happen to make it to the doorstep, the banks have run out of cash.
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Modi’s scheme was met with mixed responses among the responses. While some supported his motive to curb black money, others held the belief that his scheme could have been executed better and was inefficient. It was said that demonetisation only affected the common folk people who were actually hoarding black money had several ways to bypass the scheme.
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On November 9, after calling for demonetisation, Narendra Modi had introduced new currency notes of Rs 500 and Rs 2,000, doing away with the 1,000 denomination. The old Rs 500 and Rs 1,000 notes were allowed acceptance for exchange at government hospitals, crematoria/burial grounds, Mother Dairy and government milk booths, ASI monuments, highway toll, and could be used to purchase medicines (purchased with a valid prescription), railway tickets, metro rail tickets, LPG gas cylinders. The currency could also be used for paying water and electricity bills.
If you still have some extra cash lying around in the older currency, you can use them at the above mentioned public utilities. And hurry, in case the deadline doesn’t get postponed, you might have to stand in long queues again.