In a major relief, Power Minister Piyush Goyal on Thursday said all the power companies will accept payments in old Rs 500, Rs 1000 notes till 11 November midnight. “To avoid inconvenience to consumers, power distribution companies can accept payments in old notes until 11 Nov midnight,” he tweeted. Yesterday, amid reports of disruptions at toll plazas of national highways, metro train stations and airport taxi toll booths, the Finance Ministry issued specific instructions suspending payment of fee at toll plazas on all national highways till November 11 midnight. The government also announced the inclusion of private and government pharmacies, ASI monuments, LPG cylinder distributors, metro stations in the list of public utilities that have been granted a 72-hour exemption to accept the old high-denomination currency notes, which ceased to be legal tenders from Tuesday midnight.
It was also announced that banks would remain open on Saturday and Sunday to deal with the anticipated rush of people wanting to deposit old currency notes. In a major step to check black money, Prime Minister Narendra Modi on Tuesday announced demonetization of Rs 500 and 1000 currency notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption. In his televised address to the nation, Modi said people holding notes of Rs 500 and Rs 1000 can deposit the same in their bank and post office accounts from November 10 till December 30.
To avoid inconvenience to consumers, power distribution companies can accept payments in old notes till 11 Nov midnight. https://t.co/cJucus7ckh
— Piyush Goyal (@PiyushGoyal) November 10, 2016
Modi said the notes of Rs 500 and Rs 1000 “will not be legal tender from midnight tonight” and these will be “just worthless piece of paper.” However, he said that all notes in the lower denomination of Rs 100, Rs 50, Rs 20, Rs 10, Rs 5, Rs 2 and Re 1 and all coins will continue to be valid. The prime minister expressed confidence that the staff of banks and post offices will rise to the occasion to introduce the new order within the available time