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500, 1000 Notes Validity Extended

Posted : November 14, 2016 at 12:42 pm IST by ManaTeluguMovies

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The government has extended the validity of old Rs 500 and Rs 1,000 notes till 24th Nov from the earlier deadline of 14th November, albeit for select transactions.

People can now use the old currency at government hospitals, milk booths, petrol stations, burial grounds, airports, railway stations, government and private medical shops, to buy cooking gas cylinders, government-run cooperative shops etc. till 24th November.

Late on Sunday night, Prime Minister Narendra Modi chaired a meeting of government officials and announced measures to alleviate the hurdles that people been facing ever since the sudden decision of scrapping old notes was announced.

A task force has also been set up comprising officials of banks, RBI and the finance ministry, to hasten the process of re-calibration of ATMs, which will make the ATMs able to dispense the new Rs 500 and Rs 2,000 notes. This whole process however is expected to take around 2-3 weeks, as said by the Finance Minister earlier.

As of now, the government and the banks are still struggling to meet the requirements of public, which is forced to stand in long queues outside banks and ATMs. This situation is expected to continue for 2 more weeks, until the 2 lakh ATMs are recalibrated.


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