Indian Railways: The NDA Government has banned the use of Rs 500 and Rs 1000 currency notes which have been Demonetized past a few days ago. As of now, there is no use of this demonetized currency notes whereas the Indian Railways have been accepting the currency for ticketing or for onboard catering or for refunding of tickets. However, the Railway Department has accepted the use of the currency for another 72 hours which is until November 14th, 2016. From the night of November 8-9, the government has banned the use and withdrawing of the notes Rs 500 and Rs 1000. The government had allowed the use of the old currency at government hospitals, railway ticketing, public transport, airline ticketing at airports, milk booths, crematoria/burial grounds, and petrol pumps for 72 hours. As the government has also extended the use of old notes for paying household utility bills, fuel, taxes and fees.
Indian Railways accepting the demonetized currencies Rs 500, Rs 1000 till 14th November
As per the source reports, an official of Indian Railways said that the use of demonetized currency notes of Rs 500 and Rs 1000 denomination was extended up to November 14 tonight, and all concerned in the Indian Railways have been instructed to comply with the latest instruction.
Indian Railways had announced stop giving a refund for cancellation of tickets in cash and instead issuing ticket deposit receipts (TDR). The precautionary measures, like a refund of canceled tickets, would be done through ticket deposit receipts (TDR) and not in cash among others, would continue.
Indian Railways has decided to continue this for another 72 hours because the demonetization move has attracted heavy rush at ticket counters at railway stations resulting in cash shortage. So the passengers who are canceling tickets and if the refund amount is Rs 10,000 or more then it would be returned to the bank account of the person.
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