New Delhi. These days, a news is going viral on social media, in which it is being claimed that the Reserve Bank of India (RBI) has issued new rules for exchanging old Rs 500 and Rs 1000 notes. You may also have noticed this viral post. After this news went viral, people are saying that these notes which were banned after demonetization in 2016 can be exchanged again. But the entire situation regarding this news has been clarified by the fact check team of the government.
PIB Fact Check Unit clarified that RBI has not issued any new guidelines or rules. Old Rs 500 and Rs 1000 notes are legally invalid and no window has been opened by RBI for their exchange. People should not believe any kind of rumour. For any information related to RBI, you can check the official website rbi.org.in.
Demonetization happened in 2016
On November 8, 2016, the government had demonetized all the old Rs 500 and Rs 1000 notes of Mahatma Gandhi series. The legal validity of these notes was abolished. The purpose of taking this step of the government was to remove fake notes from the system and to curb black money. In their place, new Mahatma Gandhi (New) series notes of Rs 500 and Rs 2000 were issued. After demonetization, a fixed time limit was given for depositing or exchanging old notes. This is over long time ago.
How to complain to the bank?
What to do if the bank is refusing to accept notes or coins or there is any problem in the service? According to RBI, if the bank does not hear your complaint within 30 days, then you can go to the RBI Ombudsman.
Safety features of new Rs 500 note
When the note is held at eye level at an angle of 45 degrees, ‘500’ appears in the latent image at the bottom left.
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