New Delhi, October 30: Has the Reserve Bank of India issued new rules for exchanging old discontinued INR 500 and INR 1000 banknotes? The question comes as a news article going viral on social media is making the alleged claim. As per the news article circulating online, the RBI has issued directions to exchange old, discontinued INR 500 and INR 1000 banknotes. The article also claims that this is the last chance to exchange the INR 500 and INR 1000 notes, which have been discontinued.

A clipping of the news article states that the last chance to exchange old discontinued INR 500 and INR 1000 banknotes has come. It further claims that the RBI has issued new directions to exchange the discontinued notes. "If you don't follow the rules within the time limit, then your old discontinued notes will stay as papers", the news article claims. While the news article appears to be true, scroll below to know what the Press Information Bureau (PIB) revealed about the alleged claim. Did RBI Order Banks To Stop Dispensing INR 500 Notes From ATMs by September 2025? PIB Fact Check Debunks Fake News Message Going Viral on WhatsApp.

RBI Issued New Rules for Exchanging Old Discontinued INR 500 and INR 1000 Banknotes? PIB Says Alleged Claim in News Article Is Fake

A fact check conducted by PIB revealed that the alleged claim made in the news article is fake. PIB's fact-check unit said that the Reserve Bank of India has not issued any such rule. PIB also urged people to visit the RBI's official website at rbi.org.in to get authentic information on financial rules and the latest updates. The nodal agency of the Modi government also requested people to send any suspicious message, picture or video related to the central government to them.

PIB further said that the alleged claim that the RBI issued new rules for exchanging old, discontinued INR 500 and INR 1000 denomination banknotes is fake. As clarified by PIB, the Reserve Bank of India has not issued any such rule. The claim made in the news article was deemed fake by PIB's fact-check unit. In a press release dated October 1, the RBI said that the facility to exchange INR 2000 banknotes is available at the 19 Issue Offices of the Reserve Bank since May 19, 2023. Are Star-Marked INR 500 Notes Fake? PIB Fact Check Debunks Fake Viral Message.

It must be recalled that the RBI had announced the withdrawal of INR 2000 denomination banknotes from circulation on May 19, 2023. RBI, which is the Central bank of the country, further said that the INR 2000 banknotes continue to be legal tender. That said, the alleged claim made in the news article circulating online that RBI issued new rules to exchange old discontinued INR 500 and INR 1000 notes is not true, as PIB called it fake.

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TruLY Score 5 – Trustworthy | On a Trust Scale of 0-5 this article has scored 5 on LatestLY. It is verified through official sources (Official X Account of PIB Fact Check). The information is thoroughly cross-checked and confirmed. You can confidently share this article with your friends and family, knowing it is trustworthy and reliable.

Fact check

Did RBI Issue New Rules for Exchanging Old Discontinued INR 500 and INR 1000 Banknotes? PIB Fact Check Debunks News Article Spreading Fake News
Claim :

Reserve Bank of India has issued new rules for exchanging old discontinued INR 500 and INR 1000 notes.

Conclusion :

PIB said that the RBI has not issued any such rule. It called the alleged claim made in the news article fake.

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(The above story first appeared on LatestLY on Oct 30, 2025 11:14 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).