On 8 November, Prime Minister Narendra Modi announced the ban of Rs 500 and Rs 1,000 denomination notes, much to the surprise of the entire country. Speaking to the citizens of India, Modi revealed that around 80% of the fake currency currently circulating in India are that of Rs 500 and Rs 1,000 notes. His move to curb black money transactions was met with approval at several counters. But for many, the move requires them to exchange notes of higher value for notes smaller value.
Here are some quick ideas on where to exchange Rs 500 & Rs 1,000 notes without going to banks or post-offices:
Point to Note:
Most places accepting Rs 500 and Rs 1000 notes are not returning any change amount. They are requesting consumers purchase goods in multiples of Rs 100 and Rs 500.
They'll continue to accept the notes for 72 hours, i.e., until Friday midnight.
1. Public oil sector Petrol pumps & gas stations
As per government's order, all petrol and diesel pumps, gas stations authorised by public sector oil companies will accept notes of Rs 500 and Rs 1000. However, as told to Catch reporters, quite a few petrol pumps are not returning change and asking consumers to fill tanks in multiples of Rs 500 or Rs 1000.
2. Milk booths
State government-authorised milk booths are also accepting the banned notes until Friday.
3. Consumer co-operative storesConsumer co-operative stores that are authorised by state and Central governments will also accept denominators of Rs 500 and Rs 1000. So, it's a good time to stock up on your household and daily essentials such as grocery items etc.
4. Railway, bus and airline ticket booking counters
For the next 72 hours, booking counters at railways stations, metros, buses and airlines will accept the banned government notes.
On producing the doctor's pescription, consumers will be able to buy medicines with of Rs 500 and Rs 1000 notes.