A viral social media (here, here, and here) post claims that the Reserve Bank of India (RBI) has issued new rules allowing citizens to exchange old Rs. 500 and Rs. 1000 notes. The post further states that this is a final opportunity for those still holding these demonetised notes from the 2016 currency withdrawal. Let’s verify the claim made in the post in this article.
Claim: The Reserve Bank of India has issued new rules offering a final opportunity to exchange old demonetised Rs. 500 and Rs. 1000 currency notes.
Fact: 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. Neither the RBI’s recent press releases nor its latest notifications mention any such provision. Additionally, the Press Information Bureau’s Fact Check unit has debunked the circulating claim as fake, confirming that no fresh exchange window has been announced. Hence, the claim made in the post is FALSE.
To verify the claim, we conducted a Google search using relevant keywords but did not find any credible media reports or official information supporting the claim. Given the significance of such a development, it would have received widespread media coverage, yet no such reports were found.
We also went through the official website of the Reserve Bank of India and found no recent announcement about new rules offering a final opportunity to exchange old demonetised Rs. 500 and Rs. 1000 notes. The latest press release relates to the underwriting auction held on 31 October 2025 for Additional Competitive Underwriting (ACU) of Government securities, in which the RBI announced the cut-off underwriting commission rates payable to Primary Dealers. The latest notification on the RBI website, dated 28 October 2025, concerns clarifying, simplifying, and expediting the nomination process for deposit accounts, lockers, and safe custody items to enable smoother claim settlements after a customer’s death.
Further, an X post dated 29 October 2025 by the Press Information Bureau’s (PIB) Fact Check unit dismissed the viral claim as 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.
To sum up, the RBI has not issued new rules to exchange old demonetised Rs. 500 and Rs. 1000 notes.
