Nation all set to bid goodbye to old Rs 500 notes

At the same time, mobile recharge facility with old Rs 500 notes will not be available. However, people can deposit invalid Rs 500 currency into their bank accounts. “Exemptions for use of old Rs 500 notes will end on December 15 midnight,” Economic Affairs Secretary Shaktikanta Das tweeted. Following the announcement, demonetised Rs 500 currency notes will not be accepted at medicine shops and for paying public utility services including electricity and water bills. 

The government had already withdrawn some of the relaxations including booking railway/plane tickets and payments at petrol pump and toll plaza using the old Rs 500 notes. While cancelling legal tender of Rs 500 and Rs 1,000 notes on November 8, the government had allowed them to be used for utility bill payments for the first 72 hours. This deadline was extended repeatedly and the last extension was granted till December 15. Since the demonetisation announcement, the government has been pushing towards promoting digital transactions and has come out with a package to incentivise cashless payments.