Rumors about currency changes often spread quickly on social media, and this time the spotlight is on the ₹500 currency note. Over the past few days, several posts and videos have gone viral claiming that ₹500 notes will be withdrawn from ATMs by March 2026. These claims have naturally caused confusion and concern among the public. However, the Government of India has now stepped in to clarify the situation and put an end to the speculation.
The Press Information Bureau (PIB), the central government’s official fact-checking agency, has conducted a detailed verification of these viral claims and categorically termed them false and misleading. According to PIB, the Reserve Bank of India (RBI) has made no announcement regarding the discontinuation of ₹500 notes.
PIB addressed the issue through an official post on its social media platform X (formerly Twitter). The agency stated that some social media posts are falsely claiming that the RBI plans to phase out ₹500 notes from circulation by March 2026. PIB Fact Check clarified that this claim has no factual basis and does not reflect any official RBI decision.
The fact-check agency emphasized that no notification, circular, or press release has been issued by the RBI suggesting that ₹500 notes will be discontinued. As of now, these notes continue to remain a crucial part of India’s currency system.
PIB further confirmed that ₹500 notes are fully valid legal tender, which means they can be freely used for all types of transactions, including cash withdrawals from ATMs, retail purchases, and other payments. There has been no change in their legal status, and citizens can continue using them without any concern.
The government has urged people to avoid believing or sharing unverified information circulating on social media. Citizens have been advised to always cross-check such claims through official sources like the RBI website or PIB Fact Check handles before forwarding them further.
This is not the first instance when misinformation about ₹500 notes has spread online. In the past as well, similar rumors regarding demonetization or withdrawal of certain currency denominations have gone viral. Each time, the government has had to step in to clarify the facts.
Earlier, in June, PIB had also debunked claims suggesting that another round of demonetization was planned for March 2026. At that time too, PIB had made it clear that such reports were entirely baseless and aimed at misleading the public.
According to officials, the recent confusion originated from a YouTube video that gained rapid traction on social media. In the video, an anchor from a YouTube channel claimed that ₹500 notes would be withdrawn from circulation starting March 2026. The video was widely shared across platforms, leading many people to assume that the information was authentic.
However, after verification, the government confirmed that there is no such proposal under consideration. PIB reiterated that spreading such unverified claims creates unnecessary panic and misinformation among citizens.
The government has once again reminded citizens to remain vigilant against fake news, especially on sensitive topics like currency and banking. PIB has encouraged people to rely only on official announcements from RBI or government agencies for any updates related to currency policy.
PIB Fact Check regularly debunks viral misinformation related to government schemes, banking rules, and economic decisions. Citizens are advised to follow PIB’s official channels to stay informed and avoid falling prey to rumors.
To sum up, the claim that ₹500 notes will disappear from ATMs or be discontinued by March 2026 is completely false. The RBI has made no such announcement, and ₹500 notes continue to be valid and widely used across the country. Any information suggesting otherwise should be treated as misinformation.
In an age where rumors spread faster than facts, verifying information before believing or sharing it is more important than ever.
