What does this mean for you? Even though the RBI stopped issuing them in 2023, and most people have swapped them out, you can still technically use them. But why bother? Banks and shops often won’t accept them; and many don’t even know they’re still valid. This quiet move was meant to clean up high-denomination cash from the system, especially after the 2016 demonetisation echoes. If you still have one in your drawer, it’s worth hanging onto; but don’t expect to use it easily. The real story? The RBI is slowly phasing out big notes; and this is just the beginning. Keep an eye on the ₹500 and ₹2,000 space; change is coming.