500 Rupees Currency Note: 500 Rupees note is going to be discontinued from next year.. Such a message is rapidly going viral on social media.
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500 Rupees Currency Note: 500 rupee note is going to be discontinued from next year… Such a message is becoming increasingly viral on social media. Actually, a video going viral on YouTube claims that the Reserve Bank of India (RBI) is going to discontinue the 500 rupee note by March 2026. A YouTube channel named Capital TV Channel posted a video about this, which immediately went viral and many people wondered whether the 500 rupee note is being discontinued in a phased manner or not. However, the government has called it fake news.
What is the rumor about the 500 rupee note?
The video claims that the RBI is working on discontinuing the 500 rupee notes in a phased manner, the process of which is expected to be completed by March 2026.
Is the ₹500 note set to be phased out by 2026? 🤔
A #YouTube video on the YT Channel ‘CAPITAL TV’ (capitaltvind) falsely claims that the RBI will discontinue the circulation of ₹500 notes by March 2026.#PIBFactCheck
✔️@RBI has made NO such announcement.
✔️₹500 notes have… pic.twitter.com/NeJdcc72z2
— PIB Fact Check (@PIBFactCheck) June 3, 2025
Is the government planning to demonetise Rs 500 notes by 2026?
According to PIB Fact Check, the RBI has not made any announcement about demonetising the Rs 500 notes. These notes remain legal tender and are still being issued and accepted across the country. The video is misleading and is not backed by any official statement or RBI circular.
However, this speculation has been fuelled by a recent RBI circular issued in April 2025 directing banks and white label ATM operators (WLAOs) to increase the circulation of Rs 100 and Rs 200 notes through ATMs. In April 2025, RBI asked banks to ensure that ATMs dispense Rs 100 or Rs 200 notes to increase the availability of these currency notes to the people. Banks and white label ATM operators (WLAOs) will have to implement this directive in a phased manner.
RBI Voice Call Fraud
In another matter, the Press Information Bureau (PIB) Fact Check Unit warned about a fraudulent voicemail scam impersonating the Reserve Bank of India (RBI). These voicemails falsely claim that your bank account will be blocked due to alleged credit card fraud and recipients are urged to press a number for more information. The warning is clear: this is a scam designed to steal your personal information. The Press Information Bureau (PIB) is the nodal agency of the Government of India that disseminates information to the print and electronic media about government policies, programs, initiatives and achievements.
