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Here's Why Mobile Recharge Shops Can't Be Forced to Accept Old Rs. 500 Notes
Get to know the reasons why recharge shops can't be forced to accept the banned Rs. 500 notes.
A few days back, we had reported that you can pay the old Rs. 500 notes that were banned for prepaid mobile recharges. This way, prepaid subscribers can top-up their number for up to Rs. 500 using the old currency notes until December 15, 2016.
Though this announcement was made by the finance ministry, there were complaints from common people all over the country regarding non-acceptance of the old Rs. 500 notes for prepaid mobile recharges. Now, COAI (Cellular Operators Association of India) has come up with a statement supporting the distributors and retailers.
COAI has stated that the telecom operators have given guidelines to the retailers and distributors to accept the old Rs. 500 notes, but the latter cannot be forced. The guidelines were given in order to avoid contradicting the objectives of the government, stated Rajan Mathews, COAI Director.
He further added that the distributors and retailers cannot be literally forced in order to do something that they are not willing to do as they believe the process will become tedious for them. Of course, this will be unfortunate for the users using the retailers and distributors to make recharges and exchange old notes instead of approaching the banks.
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But, he announced that the company owned points of sales will still be accepting the old and demonetized Rs. 500 notes. This should provide some bit of relief to the customers.
Why retailers aren't accepting old Rs. 500 notes?
As per the finance ministry, those using the old Rs. 500 notes for prepaid mobile recharges have to provide a valid ID proof to the retailer. However, the companies are not accepting the old notes from the retailers that makes them difficult to entertain customers bringing in the demonetized currency notes.
Another reason is that the collection agents are not having enough time to fill up the forms that are needed to accept the old notes. Also, the distributors are not accepting old ones, and only the new ones. This forces the retailers to deposit the old notes in their own accounts and that requires them to wait in the bank for almost a day.