Central Government decides that there will be no over the counter exchange of old Rs. 500 and Rs 1000 notes after midnight of 24.11.2016. However, Certain other exemptions relating to cancellation of legal tender character of old Rs. 500 and Rs.1000 notes extended up to 15.12.2016.
Payments for the transactions under all the exempted categories will now be accepted only through old Rs. 500 notes .
Payments towards pre paid mobile top-up to a limit of Rs. 500 per top-up will be accepted through old Rs 500 notes.
Purchase from Consumer Cooperative Stores will be limited to Rs. 5000 at a time.
Payment of School fees up to Rs 2000 per student in Central,State,Municipality & local body schools will be accepted through old Rs 500 notes.
Toll payment at toll plazas can be made via old Rs.500 notes from 3.12.2016 to 15.12.2016 as toll free arrangement continues upto 2nd Dec.
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.
Those extended till 15.12.2016 include Payment of current & arrears dues to utilities which will be limited to only water and electricity.