The outlawed notes can no longer be exchanged for new ones from Banks now. Exchange of notes stopped at banks from Thursday midnight and now will only be allowed at Reserve Bank of India.
The government has decided to now focus on encouraging people who currently do not have accounts to open them and deposit the abolished notes.
Old notes can be deposited till 31st December, and the current limit of withdrawal of up to 24000 per week remains same.
Petrol pumps and state-run hospitals will continue to accept the old notes until 15th December.
Water and electricity bills can also be paid with the old currency till December 15.