Narendra Modi had on November 8 declared that Rs 500, Rs 1000 will not be considered legal tender from midnight that day. The Finance Ministry on Thursday announced that there will be no over the counter exchange of old Rs 500 and Rs 1000 notes after midnight of November 24. However, certain other exemptions relating to cancellation of legal tender character of old Rs 500 and Rs 1000 notes have been extended up to December 15. # No more over the counter exchange# Payments towards pre-paid mobile top-up to a limit of Rs 500 per top-up will be accepted through old Rs 500 notes. The government had decommissioned the use of old Rs 500 or Rs 1,000 notes effective November 8 midnight, but had allowed the use of the old notes at select outlets.

Source: dna November 24, 2016 14:44 UTC