500-1000 Notes News: A claim is being circulated on social media that the RBI has introduced new rules for exchanging old 500 and 1000 rupee notes. Find out the truth behind this claim.

Has RBI brought new rules on old 500-1000 notes?

500-1000 Notes RBI News: A post is rapidly going viral on social media these days. It claims that India's central bank, the Reserve Bank of India (RBI), has introduced new rules for exchanging old 500 and 1000 rupee notes. This claim is being widely discussed. Now, the PIB has revealed the truth behind this claim.

First of all know what is the claim?

A screenshot of a news story is being shared on social media. The headline reads, "RBI Issues New Rules for Old 500 and 1000 Rupee Notes, Learn the Complete Information." The news story also features a photo of RBI Governor Sanjay Malhotra. It also includes a picture of the old 500 Rupee note.

PIB told the truth of the claim

The PIB fact-checked this claim. PIB wrote on X, "This claim is false. The RBI has not made any such announcement. The RBI's official website is the only reliable source for updates on financial regulations and currency-related announcements."

Along with this, the PIB has also appealed to the public. The PIB wrote, "Never forward messages without verifying them. Be cautious and only share information from trusted official sources. If you receive any suspicious messages, photos, or videos related to the central government, please send them to us. We will investigate them for you."

When were 500 and 1000 rupee notes banned in India?

It should be noted that on November 8, 2016, at 8 pm, Prime Minister Narendra Modi announced the withdrawal of the then-circulating ₹ 500 and ₹1,000 notes. This was demonetization. The RBI printed a new ₹500 note to replace the old ₹500 note. A ₹2,000 note replaced the ₹1,000 note. However, the RBI had also decided to demonetize ₹2,000 notes, and the process for exchanging or depositing them has now been completed. According to the government, the primary objective of this move was to curb black money, eliminate the circulation of counterfeit notes, and prevent the funding of corruption and terrorism.