Continuing the use of old Rs500 notes as legal tender for

Continuing the use of old Rs500 notes as legal tender for

ZCZC
PRI ECO ESPL INT
.NEWDELHI PWR16
COAI 2
Continuing the use of old Rs500 notes as legal tender for
prepaid mobile services is crucial because industry estimates indicate between 30% and 50% fall in demand as customers are still struggling with less cash in hand due to demonetisation of Rs500 and Rs1,000 notes. Keeping people s interests in mind, COAI on behalf of the telecom service providers had submitted to the government that dealers and distributors should be permitted to accept the old Rs500 and Rs1,000 notes till adequate replacement currency is available for the daily needs of ordinary citizens. The department of Telecommunications notification has extended the deadline for the acceptance of 500 rupee notes as legal tender for recharging prepaid phones for top ups till December 15th, 2016.
Mr Rajan Mathews added: Globally, empirical evidence reveals the ability to communicate instantly fosters a sense of empowerment among common people, which is imperative given the ongoing though temporary inconvenience customers are undergoing. It s therefore important that mobile services for prepaid users continue unabated to facilitate their daily activities.
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