Scrapped Rs 500 notes won't be accepted in buses, metro, railways after Dec 10

Scrapped Rs 500 notes will not be accepted in buses, metro stations or by the railways after December 10, reported ANI. 

Earlier, the government had permitted the use of the defunct Rs 500 notes for specific list of purposes like public transport, purchasing airline, railway or metro tickets and for railway catering till December 15 midnight. 

On November 8, Prime Minister Narendra Modi announced the demonetization of Rs 500 and Rs 1000 notes as legal tender. With the aim to curb black money and turn the economy cashless, the centre set a December 30 deadline to exchange or deposit the decomposed notes. The Reserve Bank of India (RBI) on December 4 announced that it would issue new Rs 20 and Rs 50 notes and on December 6 announced the same for Rs 100 notes. All the newly issued notes will bear the signature of the new governor Urjit Patel along with the year '2016' printed on the reverse side of the note. The RBI also announced that while the new denominations will be circulated soon, the old notes will continue to remain as legal tender.