E-commerce companies in India are taking steps to prevent any hassles for themselves and customers after the Government of India scraped Rs. 500 and Rs. 1000 notes. For now, Indian citizens can get their currency exchanged from banks or post offices from November 10th till December 30, 2016, after which they will not be usable.
You will still be able to use Rs. 500 and Rs. 1000 notes for transactions on government portals for bus tickets, railway or air ticket bookings as well as hospitals till November 11. Although this is clearly a move to curb black money, this will cause a huge headache for the general public as well.
If you have placed an order via COD (Cash on Delivery) through Amazon, they will not accept Rs. 500 and Rs. 1000 notes. Now, the e-commerce giant has also stopped accepting COD orders for now, and they haven't mentioned when the option will be available.
Flipkart and Snapdeal both have limited their COD orders to just Rs. 2000 and are prompting users to choose other modes of payment. While going digital with credit or debit cards as well as wallets like PayTM are the future, the Indian Government's step may just be the push we all needed to adopt a more transparent system.
There is no need to panic, the Government is ready for the outpour of current Rs. 1000 and Rs. 500 notes and will be exchanging them for a lower denomination. Later in February 2017, new Rs. 500 and Rs. 2000 notes will also be introduced.
We would love to hear your views on the latest development, share your thoughts in the comments section.
Via: FoneArena
