Foreign Citizens can exchange demonetized notes! Fake?

Recently, a viral circular claims that foreign citizens can still exchange demonetized notes that were banned in the demonetization of 2016. But is it true? Or just a rumor? Let’s try to find it out⁷

As we know ₹2000 banknotes being withdrawn by RBI. But why? How to exchange these notes? Are these notes now illegal? Do read that article too after reading this by clicking here.

Was it fake?

In 2017, when the Government demonetized notes, the ₹500 and ₹1000 notes and issued new notes of ₹500 and ₹2000 denominations. These new currencies were exchanged with the older ones by Indian Banks. Seven years after demonetisation, a viral image on social media recently claimed that foreign citizens could still exchange old notes.

PIB fact-checked the circular and informed readers that the notification was fake. The fact-checking agency clearly stated that “this order is fake”. The authorities mention that the exchange facility for Indian demonetized currency notes for foreign citizens ended in 2017 and has not resumed since then.

Conclusion

The authorities advise all citizens to avoid falling into these types of scam activities and to always double-check all the rules and regulations.

Read full article on ₹2000 notes withdrawn by RBI

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