The 50-day deadline to deposit the old 500 and 1,000 rupee notes in banks came to an end today, however, people, will still have time to exchange the currency notes at designated RBI counters till 31st of March by giving valid reasons for not depositing defunct notes in their accounts by today.On 8th of last month, government had announced the scrapping of high value currency notes asking people to exchange the old notes from the banks. Later, it revised the order by allowing the deposit of old notes only in the bank accounts. After the demonetization, the government had fixed a limit of 24,000 rupees per week on withdrawal from bank accounts and 2,500 rupees per day from ATMs in view of the currency crunch. The government and the RBI have not specified when the restrictions will be withdrawn. Finance Secretary Ashok Lavasa had said that the withdrawal cap will be reviewed after December 30. The government has also brought in an Ordinance making possession of old 500 and 1,000 rupee notes beyond a specified limit illegal and punishable.