There has been an excessive amount of speculation as to whether or not the Reserve Bank of India (RBI) is working with the government to bring about another run of demonetisation. Questions are being raised regarding whether this would be a Demonetisation 2.0 given that almost ten years have lapsed since the last significant ban on currency notes. Specifically whether there may be a possibility that Rs 500 notes may be removed from circulation and what that means for the future. People are concerned about these potential developments; anxieties have been heightened particularly in recent weeks due to the rapid growth in the circulation of information via social media. There have been indications over the past few weeks that the Government as well as the RBI has been giving thought to limiting or withdrawing Rs 500 notes from circulation; however no announcements or clarifications have been provided to date. Social media is filled with misinformation and one such claim is that the government is rumored to keep the Rs 100 note as the largest denomination in its currency at this time. Since these rumors started circulating on social media many have begun to remember back to the demonetization that happened ten years ago and the difficulties it caused at the time. The government has since clarified its position on these reports regarding the possible removal of Rs 500 notes. This is what the government has stated regarding the proposed removal of Rs 500 notes. How did the Press Information Bureau (PIB) respond to the rumors? The Press Information Bureau (PIB) Fact Check Unit has labeled the speculation about the Rs 500 note bans circulating on social media as fake information and has confirmed that the Central Government has not made any decisions about withdrawing these denominations. The viral post falsely claims that the Government plans to ban Rs 500 notes to end black money. However the PIB Fact Check has debunked. The Press Information Bureau (PIB) on January 18 debunked claims circulating on social media that the Government of India plans to ban ₹500 notes. PIB also attached a graphic of the viral message with a red “FAKE” stamp to prevent the spread of disinformation. Where are the fake posts about Rs 500 notes circulating the most? Taking to X PIB Fact Check stated A claim is being made in a social media post that the Government of India plans to ban ₹500 notes. #PIBFactCheck ❌ This claim is #FAKE ✅ No such announcement has been made by the Central Government For authentic information related to financial policies and decisions rely only on official sources. As per PIB the government has not proposed any such plan to ban Rs 500 rupees notes. Hence Citizens can continue to use them as usual. The PIB team has urged individuals not to be misled by such posts. This is not the first time that fake posts have gone viral. Misleading posts regarding Rs 500 have circulated before. The post by PIB fact check urged the people “not to fall for misinformation” and always verify news from official sources.