Govt extends validity of old Rs.500/1000 notes for key utilities till Nov 14
The old high value notes can be used for another 72 hours to pay household utility bills, fuel, taxes and fees.
The government has also extended the rule of no toll at highways for another three days.
Even as the PM announced that ATMs will be operative from Friday, most of them continued to remain shut.
Long queues in front of the banks were the most common sight across the country even on Friday.
Not only Indians, even foreigners who had changed their currency into Indian notes, were reportedly seen worrying about getting their demonetised notes changed and were crowding to the forex bureaus.
The Rs. 500 and Rs. 1000 notes stood scrapped from the midnight of Tuesday following an announcement of Prime Minister Narendra Modi in the evening.
The Government says the move has been taken to crackdown on unaccounted wealth.
The Government has asked the people to deposit their Rs. 500 and Rs. 1000 notes in banks within a specific time frame and get smaller denominations in exchange.
It has also announced that deposits above Rs. 2.5 lakh will be taxed and could draw a 200 per cent penalty if found disproportionately higher than the account owner's income.
The banks have been asked to keep the details of PAN card of people depositing such large amounts over the 50-day period till December 30.
Banks will remain open this weekend and many banks have announced longer working hours.
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