Old Rs 500 currency notes not acceptable from 15 December midnight
Posted on: 15/Dec/2016 10:15:17 AM
As announced by the central government the usage of the old 500 rupee notes comes to an and from today midnight.
In order to prevent black money hoarding and circulation of fake currencies, Prime Minister Narendra Modi demonetized the 1000 and 500 rupee notes on 8th November. In view of this, it was also announced that the old 1000 and 500 notes can be exchanged in banks and post offices from 10th November to 30th December. Moreover for the convenience of people, it was announced that old 500 notes can be utilized in government hospitals and other essential services.
At this juncture, the old 500 notes were used for buying gas cylinders, paying of government taxes and toll fees. People can use old Rs 500 notes for paying utility bills or buying medicines till Thursday midnight as the government has decided not to extend exemptions beyond 15 December.
The old 1000 and 500 rupee notes can be deposited in the banks till 30th December.
