- Rs 500 notes not allowed at petrol pumps, airline counters from Saturday
- Notes were earlier allowed till Dec 15; Ban to curb misuse, says report
- Finance Ministry announces move by retweeting news agency
The government had banned the use of 500 and 1,000-rupee notes last month to curb tax evasion and corruption and announced it was printing new bills of Rs 500 and 2,000. But the sudden announcement, nixing 86 per cent of the currency in circulation, left millions of Indians - especially in rural areas - stranded without usable money for daily necessities.
As part of measures to ease the transition, the government allowed the use of the old currency in certain places such as fuel pumps and hospitals but revised the date several times since then. In its last formal announcement on November 24, the government stopped over-the-counter exchange of cash in banks citing misuse but said old notes - only the Rs 500 ones - could be used in the exempted places till December 15.
The move follows reports of the exemptions being misused to launder 'black' or untaxed money, the news report said quoting unnamed sources.