According to the sources, the government has decided to withdraw the facility of accepting old denomination notes of Rs. 500 and Rs. 1,000 from the midnight of December 2. The reports also said that the notification about the decision of withdrawal will be issued on Thursday.

Sources said that the government has decided to withdraw the decision after finding out the misuse of the decision to convert black money into white. The government has also found out that the withdrawal will not affect the goods movement.

A source has been quoted by a leading daily as saying, “We have reviewed the situation. Petrol pumps have various options like e-wallets, mobile payments and cards. The cash situation has also improved significantly and there are enough new notes which have been introduced in the system.”

For the ease of people the government has decided that the old notes will be accepted at the petrol pumps. The decision was further extended but limited only to Rs. 500. Although the reports of misuse has started to come in the first week itself, the center had refused to withdraw the decision as it could create more tension in the life of common man after demonetization.

However, the facility of getting cash against swiping of debit card will not be affected by this withdrawal. Sources has been quoted as saying, “We are not interfering with that facility. It is an arrangement between the petrol stations and the banks.”