The Central government has refuted false claims circulating on social media that the Reserve Bank of India (RBI) will discontinue Rs 500 currency notes from ATMs by March 2026. PIB Fact Check, a fact-checking unit of Press Information Bureau (PIB), clarified that such assertions are entirely untrue. According to PIB Fact Check, the RBI has not made any such declaration and Rs 500 notes continue to be legal tender.
In response to misleading information, the Central Bank emphasized that there has been no official announcement regarding the discontinuation of Rs 500 notes and urged the public to verify news from credible sources before sharing. Last year, the government dismissed as false a WhatsApp message alleging that banks were instructed to halt the issuance of Rs 500 notes through ATMs by a specific date. The PIB Fact Check unit reiterated that the RBI has not issued any such directive and reaffirmed the validity of Rs 500 notes.
Highlighting the importance of verifying financial updates from reliable sources, the Fact Check Unit warned against falling for deceptive messages that aim to mislead the public. Similar misinformation had previously circulated on social media, claiming that the RBI had a phased plan to cease issuing Rs 500 notes via ATMs by 2026. PIB Fact Check had debunked this claim earlier, emphasizing that no such directive had been issued.
