Old Rs 500 Notes Won't Be Accepted By Indian Railways, In Buses, Metro After Dec 10

Post the demonetisation moved announced by the Central Government on November 8, exchange of the old 500 notes were allowed at these points, but the government has finally taken a call to scrap the old 500 rupees note once and for all. (Source: Express Photo)

The exchange of old Rs 500 notes will no longer be accepted by Railways, in Buses and Metro after December 10. Post the demonetisation moved announced by the Central Government on November 8, exchange of the old 500 notes were allowed at these points, but the government has finally taken a call to scrap the old 500 rupees note once and for all.

The Reserve Bank of India has recently announced that with just three weeks left for the December 30 deadline to return the scrapped currency notes, nearly 81 per cent, or Rs 11.55 lakh crore — out of a value of Rs 14.17 lakh crore notes in circulation at the end of March 2016 — has already come back into the banking system.

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