The Reserve Bank of India has not issued any such notification.
These days a post is going viral on the social media claiming that RBI (Reserve Bank of India) has released new guidelines for exchanging the old Rs 500 and Rs 1,000 currency notes that were phased out during the demonetisation process in November 2016. The post also claims that this is the last chance to exchange the INR 500 and INR 1000 notes, which have been discontinued.
Fact Check–
At first, we checked the website of RBI and so far, website has not issued any notification or press release regarding this information. The RBI regularly updates all policy changes and notifications on its official website.
Apart from this, the fact checking unit of the Press Information Bureau (PIB) of the Government of India has also refuted the viral claim. PIB tweeted on 29 October 2025 that the viral claim is fake. It clarified that the RBI has not issued any new rules for exchanging old Rs. 500 and Rs. 1000 notes and advised users to rely on the RBI’s official website for accurate updates.
For further clarification, we contacted RBI’s Kochi headquarters to ascertain the facts of the news. The officials also refuted the viral claim.
As per reports, in May 2023, the RBI announced its decision to withdraw Rs 2,000 denomination bank notes from circulation. However, the central bank has clarified that the Rs 2,000 note remains legal tender, meaning it can still be used for transactions, though it is no longer being printed or actively circulated.
So, it is clear that the Reserve Bank of India has not issued any new rules offering a final opportunity to exchange old demonetised Rs. 500 and Rs. 1000 notes.
Conclusion-
Fact Crescendo found the claim made along with the viral image to be False. The Reserve Bank of India has not issued new rules to exchange old demonetised Rs. 500 and Rs. 1000 currency notes.
Title:RBI issues new rules for old Rs.500 and Rs.1000 notes- viral claim is false
Fact Check By: Usha ManojResult: False
