The Union Government's extension for transactions with demonetised Rs 500 and Rs 1,000 currency notes ends on Thursday. Come Friday and all demonetised currency notes will become invalid in all places except for deposit and exchange in banks.
In a bid to ease cash crunch the government had allowed government hospitals, pharmacies, petrol pumps to accept demonetised currency notes. Exception was also applied to payment of utility bills till November 24. Today being the last day of the extension, demonetised notes will become invalid in all places of exception starting Friday.
Banks and money deposit machines, however, will accept demonetised notes for deposit or exchange till December 30 as per the union government's order. The November 24 deadline will have no impact on the banking sector which will continue to transact with demonetised notes. The cap of Rs 2000 per person per day will continue at Banks for exchange of old notes with new ones.
Many state governments had announced that advance payment of utility bills will be accepted through demonetised notes including water, electricity and phone bill payments. Thursday will be the last day to use demonetised notes in all sectors except banking.