After discontinuation of the Rs.500 and Rs.1000 notes previously government has announced that old tender of Rs.1000 and Rs. 500 will be accepted till 31st December but now the date is shortened after evaluating the problem related to the black money and many fraudulent cases.
Till 15th of December, Rs. 500 notes will be accepted at any banks but not at shop or official place. Government doesn't want to extend the date beyond it. “Exemption for use of old Rs.500 notes will end on 15th December midnight,” Economic affair secretary Shaktikanta said.
Government had already given the relaxation to use old currency at Railway and petrol pump but now they decided to ban it over these places but it will be accepted in Banks till Thursday.
Along with this many decisions were came into existance related to plastic money and new Rs.50 and Rs.20 notes.
