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The government has suspended over-the-counter exchange of old notes from today midnight.
It said that the Rs 500 notes will be allowed till December 15 in places where it is already being accepted.
Rs 1,000 notes will not be eligible for exemption, the government announced. There is a complete ban on the usage of these notes from today midnight.
Rs 1000 notes will not be accepted at petrol pumps and government hospitals.
Foreign citizens will be permitted to exchange foreign currency upto Rs 5,000 per week. Entry to this effect will be made in their passports.
Old Rs 500 notes will be allowed for government school and college fees.