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There is no information on banned notes used to pay for insurance policies as “it is not maintained by the Authority”, RBI added referring a part of the RTI to IRDAI. The twenty three services for which payment with these banned notes was allowed included: government hospitals, railway ticketing, public transport, airline ticketing at airports, milk booths, crematoria or burial grounds, petrol pumps, metro rail tickets, purchase of medicines on doctor prescription from the government and private pharmacies, LPG gas cylinders, railway catering, electricity and water bills, ASI monument entry tickets and highway toll.

However, the relaxation was discontinued on November 25, 2016 after the use of only old 500-rupee notes at these utilities was allowed by the government till December 15, 2016. In August last year, RBI has said in its annual report that more than 99 per cent of Rs 500 and Rs 1,000 notes banned during demonetization have returned to the banking system, the Reserve Bank of India said today after completing what it calls the “humungous task” of counting the banned cash.

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