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of <h1>Rs. 500 and Rs. 1000 Old Banknotes Withdrawn as Legal Tender After November 11, 2016, with Limited Airport Exchange Allowed</h1> The legal tender status of existing and older series banknotes in Rs. 500 and Rs. 1000 denominations was withdrawn effective midnight November 8, 2016. However, these notes remained legal tender until November 11, 2016, solely for limited transactions at international airports, allowing arriving and departing passengers and foreign tourists to exchange notes up to Rs. 5,000 for valid currency. Authorized persons were instructed to comply with these directives under the Foreign Exchange Management Act, 1999, and to inform their constituents accordingly. These directions do not affect any other permissions or approvals required under different laws.
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