Home Created by potrace 1.16, written by Peter Selinger 2001-2019News Created by potrace 1.16, written by Peter Selinger 2001-2019Webqoof Created by potrace 1.16, written by Peter Selinger 2001-2019Fact-Check: Did RBI Announce New Rules To Exchange Old ₹500, ₹1000 Notes? No!

Fact-Check: Did RBI Announce New Rules To Exchange Old ₹500, ₹1000 Notes? No!

The RBI has not issued any rules or guidelines to exchange demonetised notes.

Aishwarya Varma
WebQoof
Published:
<div class="paragraphs"><p>Social media users are sharing posts which falsely claim that the RBI has issued 'new rules' for exchanging demonetised Rs 500 and Rs 1000 notes.</p></div>
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Social media users are sharing posts which falsely claim that the RBI has issued 'new rules' for exchanging demonetised Rs 500 and Rs 1000 notes.

(Source: Facebook/Altered by The Quint)

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Social media users are sharing posts, claiming that the Reserve Bank of India (RBI) has announced 'new rules' to exchange ₹500 and ₹1000 notes, which were demonetised in 2016.

An archived version of this post can be seen here.

(Source: Facebook/Screenshot)

(Archives of more posts sharing this claim can be seen here and here.)

Is it true?: No, the claim is false.

  • The RBI has not issued any guidelines for people to exchange 10-year-old demonetised notes.

Also ReadFact-Check: Banks Closed Every Saturday-Sunday? Claim is False!

How do we know?: We ran a keyword search for any reports, news, or updates about the ₹500 and ₹1000 banknotes that were demonetised in 2016.

  • The search did not show us any credible reports or official announcements.

  • We then looked for more information on the RBI's website.

  • Here, we saw that their newest press release, dated 3 November 2025, was about money market operations for 2 November.

  • The latest relevant press release was about the ₹2000 banknote, issued on 1 November, which spoke about the facility to exchange them after they were withdrawn from circulation in May 2023.

The newest, relevant press release was about ₹2000 banknotes.(Sour

(Source: RBI/Screenshot)

However, there was no mention about the demonetised ₹500 and ₹1000 notes.

PIB clarifies: The Press Information Bureau took to their official X (formerly Twitter) to call out the viral claim, calling it "fake."

Conclusion: The RBI has not issued 'new rules' to exchange currency notes which were demonetised in 2016.

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