In late evening announcement Narendra Modi calls to stop exchange of old notes from the midnight of Thursday and extended the exceptions for certain transactions till December 15.
- Payments in exempted categories are not applicable for using old Rs 1,000 notes.
- Payments for the transactions under all the exempted categories are only accepted through old Rs. 500 notes.
The categories where the exceptions applicable:
- Payment at highway toll plazas can be made through old Rs. 500 notes till December 15, 2016.
- Payment of school and college fees up to Rs 2,000 per student in central and state government, municipality and local body schools can be made used old Rs 500 notes.
- Payment towards pre-paid mobile top-up to a limit of Rs. 500 per recharge.
- Purchase from consumer cooperative stores will be limited to Rs 5,000 at a time, while payment of current and dues to utilities using old Rs 500 notes will be limited to only water and electricity.
- Foreign citizens will now be permitted to exchange foreign currency up to Rs. 5,000 per week. Necessary entry to this effect will be made in their passports.
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