No old notes for fuel from Saturday, toll collection to resume

All toll plazas on National Highways have been equipped with card swipe (PoS) machines through which people can make payments using their credit or debit cards, although people will be allowed to use old 500 notes for paying toll above Rs 200 or for purchasing FASTags from midnight of December 2.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney master your money IThe Winning Leap SME Special
Moneycontrol

Home » News » Economy

Dec 02, 2016, 09.29 AM | Source: PTI

No old notes for fuel from Saturday, toll collection to resume

All toll plazas on National Highways have been equipped with card swipe (PoS) machines through which people can make payments using their credit or debit cards, although people will be allowed to use old 500 notes for paying toll above Rs 200 or for purchasing FASTags from midnight of December 2.

Like this story, share it with millions of investors on M3

No old notes for fuel from Saturday, toll collection to resume

All toll plazas on National Highways have been equipped with card swipe (PoS) machines through which people can make payments using their credit or debit cards, although people will be allowed to use old 500 notes for paying toll above Rs 200 or for purchasing FASTags from midnight of December 2.

Post Your Comments

Share Cancel

| 1 Comments
No old notes for fuel from Saturday, toll collection to resume
Amid reports of misuse, government put an end to the use of old Rs 500 notes for buying fuel at petrol pumps and purchasing tickets at airports from Saturday, while exemption for payment of toll on highways will also end.

Earlier, these facilities and the toll exemption were to continue till December 15.

All toll plazas on National Highways have been equipped with card swipe (PoS) machines through which people can make payments using their credit or debit cards, although people will be allowed to use old 500 notes for paying toll above Rs 200 or for purchasing FASTags from midnight of December 2.

The government had last week extended the time period of use of invalid currency notes for making payment of public utility bills, buying petrol, mobile recharge, rail tickets and air tickets at airport till December 15.

However, it has decided to withdraw the facility for use of old 500 notes at airports and petrol pumps from midnight of December 2.

The ministry said that processes of production, dispatch and distribution of currency notes have been continuing and more cash is flowing into the system steadily and digital transactions have also made an impressive progress and are expected to significantly improve during the coming days.

"Now, therefore, as digital transaction options have been increasing across different sections of the economy, it has been observed that the outlets of the oil and gas marketing companies are better equipped to accept payments through digital means," it said while removing petrol pumps from exempted list.

The ministry however clarified that supply of LPG continues to be in the exempted category for the purpose of payment through old Rs 500 bank notes.

While junking old 500 and 1,000 rupee notes on November 8, the government had allowed their use for utility bill payments for 72 hours.

This deadline was extended twice. When the last one was to expire on November 24, government amended it to state that only the old 500 rupee notes could be used for payment of utility bills like electricity and water, school fees, pre- paid mobile top-up, fuel purchase and airline ticket booking.

While old notes will continue to be accepted for other utility bill payments as well as at railway ticketing counters and counters of government or public sector undertaking buses for purchase of tickets till December 15, they will be discontinued for purchase of fuel and airline tickets at airport counters.

Buy, Hold, Sell ? Hear it first on M3
No old notes for fuel from Saturday, toll collection to resume

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login