Railways, metro, bus won't accept old Rs 500 notes after Dec 10

A notification was issued by the finance ministry indicating the changes.

In its FAQs (frequently asked questions), the Reserve Bank of India on Thursday said using old Rs 500 notes will be discontinued with effect from December 10 midnight 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.

It will also be discontinued for making payments to buy tickets for travel by suburban and metro rail services.

But the old Rs 500 notes will be accepted in government hospitals for medical treatment and pharmacies in government hospitals to buy medicines with doctor's prescription till December 15 as stated earlier.

It will also be accepted at milk booths operating under authorisation of the central or state governments, at crematoria and burial grounds, in all pharmacies on production of doctor's prescription and proof of identity and to purchase LPG cylinders.

The old Rs 500 notes will also be accepted to buy entry tickets for monuments maintained by the Archaeological Survey of India.

The few other areas where old Rs 500 notes will be accepted are: for paying fees, charges, taxes or penalties, payable to the central or state governments including municipal and local bodies; towards utility charges for water and electricity; for court fees and fees up to Rs 2,000 per student in central and state government, municipal and local body schools.