Important Update - The Centre on Thursday said that there will be no counter exchange of old Rs. 500 and Rs 1000 currency notes after the midnight today. However, certain exemptions relating to cancellation of legal tender character of old currency notes has been extended up to December 15, including for the payment of current and arrears dues to utilities which will be limited to only water and electricity.

Payment at toll plazas can be made via old notes from December 3 to December 15 as toll free arrangement continues up to December 2. School fees up to Rs. 2000 per student can be made through old currency in all Central, State, Municipality local body schools and Central or State Government colleges. However, foreign citizens will be permitted to exchange foreign currency up to Rs. 5,000 per week. Entry to this effect will be made on their passports.

Purchase from Consumer Cooperative Stores will be limited to Rs. 5000 at a time.

After days of confrontation between government and opposition, Prime Minister Narendra Modi on Thursday reached out to the rival parties as he walked across in the Rajya Sabha and exchanged pleasantries with his predecessor Manmohan Singh and other leaders of Congress as well as JD(U), NCP and DMK.

Modi, with Finance Minister Arun Jaitley and Minister of State of Parliamentary Affairs Mukhtar Abbas Naqvi in tow, made the gesture when the Upper House went into lunch break amid a debate on demonetisation.

The Prime Minister shook hands and was seen chatting with Singh, as also Leader of the Opposition Ghulam Nabi Azad and Anand Sharma.

Modi also chatted with JD(U) leader Sharad Yadav, Praful Patel of NCP and DMK's Kanimozhi and some other leaders.

However, Rajya Sabha was adjourned till Friday after opposition created uproar and stormed the well over Prime Minister's absence in the house post lunch, demanding his presence throughout debate on demonetization.

Earlier, Singh attacked the Government over demonetisation, saying it was a "monumental management failure" and a case of "organised loot and legalised plunder." Singh said the decision will result in decline of GDP by 2 per cent.

The opposition had been stalling the House over the last five days, targeting the Prime Minister and demanding his presence in the House for resumption of debate on demonetisation, which had begun on November 16.