500-1000 Notes RBI News: These days a post is becoming increasingly viral on social media. It is being claimed in this post that the Central Bank of India i.e. Reserve Bank of India (RBI) has come up with new rules to replace the old notes of Rs 500 and Rs 1000. Discussions are taking place everywhere regarding this claim. Now PIB itself has told the truth of this claim.

First of all know what is the claim?

A screenshot of a news is being shared on social media. The headline of this news is, “RBI Issues New Rules for old 500 and 1000 notes, know the complete information.” Not only this, the photo of RBI Governor Sanjay Malhotra is also attached with the news. There is also a picture of an old Rs 500 note.

PIB told the truth of the claim

PIB fact checked this claim. PIB has written on X, “This claim is fake. RBI has not made any such announcement. The official website of RBI is the only reliable source for updates on financial rules and currency related announcements.

Has RBI really announced ‘new rules’ for exchanging old ₹500 & ₹1000 notes

Some news reports claim that the Reserve Bank of India (@RBI) has issued new guidelines to exchange discontinued currency notes.#PIBFactCheck

This claim is FAKE!

RBI has made NO such… pic.twitter.com/8ph2mlCrLT

— PIB Fact Check (@PIBFactCheck) April 17, 2026

Only seven PIBs have also appealed to the public. PIB has written, “Never forward a message without checking it.” Be careful and only share information from trusted official sources. If you get any suspicious message, photo or video related to the Central Government, then send it to us. We’ll check it out for you.”

When were 500 and 1000 rupee notes banned in India?

Let us tell you that on November 8, 2016, at 8 pm, Prime Minister Narendra Modi ₹It was announced to ban 500 and 1000 rupee notes. This was demonetization. RBI had printed a new note of Rs 500 in place of the old note of Rs 500. Whereas instead of Rs 1000 note, a Rs 2000 note was received. However, RBI had also decided to remove Rs 2000 notes from circulation, the process of exchanging or depositing them has now been completed. According to the government, the main objective of this step was to curb black money, end the circulation of fake notes and stop the funding of corruption and terrorism.

Also read-

Gold Silver Price: Movement in gold and silver prices continues before the wedding season, know the latest prices of these precious metals today.

Digital transactions: The digital revolution in the country and the UPI transactions have not only reduced cash transactions, but have also curbed the number of dirty and damaged notes. The latest report of the Reserve Bank of India (RBI) shows that in the last one year, the number of such notes has fallen by about 41 percent.

Brake on waste of notes

Earlier it was often seen that people used to write unnecessary things on notes, bend them or did not use them correctly. Due to these reasons, notes used to deteriorate quickly. But now the growing trends towards digital payments, awareness of the people and the strictness of the central bank have reduced this problem to a great extent.

How many notes out of circulation in four months

The RBI exits the damaged notes every year. A total of 8.43 billion notes were withdrawn between April and July 2024, while in the same period the number declined to 5.96 billion in 2025. If we talk about different price category, then between April and July in 2024, 3.10 billion of Rs 500, 85.63 crore rupees of 200, 2.27 billion of Rs 100 and 70 crore notes of 50 rupees were out of the trend.

During the same period, 1.81 billion of 500 rupees, 56.27 crore rupees of 200 rupees, 1.07 billion rupees of 100 rupees and 65 crore rupees of 50 rupees were made in 2025. It is clear from these data that the use of cash is decreasing due to digital transactions. This has not only reduced the number of dirty and old notes, but also the dependence on cash in the economy is continuously decreasing. In the coming time, this trend can be faster.

Also read: Next Gen GST Reforms: ‘Turup leaf’ can prove to be GST reforms, single tax will open by 2024