From tomorrow, you won’t be able to use old Rs 500 notes

The extended deadline to use old Rs 500 denominations is expiring tomorrow on December 15 and you won’t be able to use old Rs 500 notes at public utilities. The government has said it won’t extend the deadline and people will be able to deposit invalid Rs 500 currency in their bank accounts.

"Exemptions for use of old Rs 500 notes will end on December 15 midnight," Economic Affairs Secretary Shaktikanta Das tweeted.

This means, old Rs 500 currency notes will not be acceptable at medicine shops and for paying public utility services such as payment of electricity and water bill etc.

Some of the exemptions were earlier withdrawn like booking railway or plane tickets and payment at petrol pump and toll plaza by using the old Rs 500 notes.

While cancelling legal tender of 500 and 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.

In between, the government withdrew use of 1,000 rupee notes for utility bill payments and discontinued use of even 500 ones for services like purchase of petrol and diesel at petrol pumps as well as buying air tickets at airport counters.