No RBI Rules Issued For Exchange Of Discontinued Notes: PIB Fact Check

The fact-checking wing of the Press Information Bureau (PIB) has rejected viral claims suggesting that the Reserve Bank of India has issued fresh rules allowing the exchange of discontinued currency notes.

In a post on X, the PIB unit rejected the reports as false and clarified that the central bank has issued no new instructions on old or withdrawn currency.

“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 announcement!” the PIB fact-check unit said in the post.

The fact-checking unit further advised the public to rely only on official channels for financial updates, noting that the RBI’s website remains the sole verified source for announcements related to currency and regulations.

The PIB also cautioned users against sharing unverified content online and encouraged them to report suspicious messages, images or videos related to government matters for verification through its official channels.

This is not the first such clarification. The fact-checking unit had earlier dismissed similar claims about the exchange of old Rs 500 and Rs 1,000 notes, withdrawn during the 2016 demonetisation exercise.

In recent months, the agency has also debunked misleading content involving Nirmala Sitharaman, including a fabricated video promoting a high-return investment scheme. Officials reiterated that neither the government nor the finance minister endorses such offers.

Additionally, a separate alert was issued over a fake message claiming that accounts on YONO would be blocked without immediate Aadhaar updates.

Authorities have urged citizens to remain cautious and verify information before sharing, stressing that misinformation related to financial matters can lead to confusion and potential fraud.