The five hundred and thousand rupee notes hoarded by anti-national and anti-social elements will become just worthless pieces of paper. There may be some who, for some reason, are not able to deposit their old five hundred or thousand rupee notes by 30th December 2016.10. Five hundred and thousand rupee notes will not be legal tender from midnight. During this period, government hospitals will continue to accept five hundred and thousand rupee notes for payment.15. Now as part of this exercise, RBI's recommendation to issue two thousand rupee notes has been accepted.

Source: Times of India November 08, 2016 17:15 UTC