<h1>India Withdraws Rs. 500 and Rs. 1000 Notes to Combat Counterfeit Currency and Black Money, Exchange Until Dec 30, 2016.</h1> The withdrawal of legal tender status for Rs. 500 and Rs. 1000 banknotes was introduced to combat the rise of counterfeit currency and black money, often used in illegal activities. As of November 8, 2016, these notes ceased to be valid for transactions but could be exchanged at banks and post offices until December 30, 2016. Cash exchanges were limited to Rs. 4000 per person, with the remainder credited to bank accounts. The scheme allowed for certain emergency uses of the notes until November 14, 2016. Non-residents could authorize representatives to deposit notes in their accounts, and foreign tourists could exchange limited amounts at airports.