Govt stops exchange of old Rs 500, Rs 1,000 notes | Story in points

Representative image
Representative image

» The government on Thursday stopped over-the-counter exchange of old Rs 500 and Rs 1,000 notes

» Old notes can be deposited in the bank from Friday onwards

» Usage of old notes for payment in public utilities extended till December 15

» Only Rs 500 notes valid for exemptions

» Rs 1,000 notes will not be accepted any more in exempted categories

» Cash withdrawal concessions extended till Dec 15

» Old Rs 500 notes can be used to top up pre-paid mobile phones.

» The government also said the scrapped Rs 500 notes will be accepted at toll plazas on National Highways from December 2 mid-night to December 15