December 15, Thursday, is the last day to use old Rs. 500 notes for paying utility, hospital bills and purchasing cooking gas cylinders. The Centre has decided not to extend the deadline further.
"Exemptions for use of old Rs.500 notes will end on 15 Dec midnight. Sections of media reporting wrongly as if it's tonight," economic affairs secretary Shaktikanta Das tweeted.
The old Rs 500 and Rs 1,000 notes can be submitted in bank branches where a person holds an account until December 31.
The facility to use old Rs 500 notes at petrol pumps had been withdrawn from the midnight of December 2. The Centre had taken the decision after it found that the facility was being used to launder money. The government had also decided to withdraw the relaxation in allowing use of old Rs 500 notes for railway booking or plane tickets.
While use of old Rs. 1,000 notes had been completely stopped, old Rs 500 notes were being allowed for payments in hospitals and pharmacies, where one could buy medicines after showing a doctor's prescription. The money could also be used to buy milk in central or state-control milk boards, for mobile recharge, payments at crematorium and burial grounds.
After it was announced that Rs 500 and Rs 1,000 notes will cease to be legal tender from November 8, banks and ATMs remained shut for two days.
In the Centre's bid to push the country into digital payments, fight black money and corruption and terror funding, people have had to stand in long queues to withdraw cash. Many ATMs have been dispensing Rs 2,000 notes and the Rs 500 note is currently less in circulation.
The government has also conducted many search and seizures of alleged black money in the past week.
