Old Rs 500 notes' use ends at midnight of Dec 15, not Dec 14: FinMin

Exemptions provided for the use of old Rs 500 notes will come to an end at the midnight of December 15, or Thursday, not December 14 as a section of media claimed, the Finance Ministry said on Wednesday.

"Exemptions for use of old Rs 500 notes will end on 15 Dec midnight. Sections of media reporting wrongly as if it`s tonight (December 14)," Economic Affairs Secretary Shaktikanta Das said in a tweet on Wednesday.

The government had earlier permitted various exemptions for certain transactions and activities wherein payment could be made through the old Rs 500 currency notes till December 15. 

The usage of old Rs 500 notes at railway ticketing counters, to buy tickets of government or public sector undertaking buses and to pay catering services on board during travel by rail was discontinued from December 10 midnight.

Exemption for old notes for purchase of air tickets, petrol, diesel and gas at stations of state-run oil companies had come to an end on December 2. The payment at toll plaza in demonetised currency was also withdrawn earlier.

After Thursday midnight, Rs 500 notes would no longer be allowed to be used for the list of exemptions the government had announced. However, the demonetised Rs 500 and Rs 1,000 notes can be deposited in bank accounts till December 30.

The government demonetised Rs 1,000 and Rs 500 currency notes on November 8.

Following is a list of areas where the concession to use the denotified Rs 500 notes is applicable till Thursday midnight:

1. Payment of fees up to Rs 2,000 per student in central and state government colleges as well as central government, state government, municipality and local body schools.
2. Payments towards pre-paid mobile to a limit of Rs 500 per top-up.
3. Purchase from consumer cooperative stores limited to Rs 5,000 at a time.
4. Payment of current and arrear dues of water and electricity utility bills for individuals and households.
5. Foreigners can exchange foreign currency up to Rs 5,000 per week. Necessary entry to this effect made in their passports.
6. For payments in government hospitals for medical treatment.
7. For use in all pharmacies for buying medicines with doctor`s prescription.
8. For purchases at government-run milk booths.
9. For payments at crematoria and burial grounds.
10. For use at international airports for arriving and departing passengers up to Rs 5,000.
11. For purchase of LPG gas cylinders.
12. For purchase of entry tickets at monument maintained by the Archaeological Survey of India.
13. For payments towards fees, charges, taxes or penalties, payable to central or state governments, including municipal and local bodies.
14. For payments towards court fees.
15. For payments towards purchase of seeds from designated state-run outlets.