Rumors that the new 500 rupee notes issued by the Reserve Bank of India will soon be discontinued after demonetisation have also started doing the rounds on social media. There are claims that Rs 500 notes will not be available from ATMs after March. It was also claimed that RBI will phase out Rs 500 notes. Government’s communication wing PIB has clarified on this viral news and revealed the real truth. PIB Fact Check has clarified this claim as false.
What was viral news?
According to the news circulating on social media, it was being claimed on many platforms like Facebook and Twitter that the Reserve Bank of India (RBI) will soon withdraw the new Rs 500 notes from circulation. It was also claimed that after March 2026, ₹500 notes will not be withdrawn from ATMs and will be phased out gradually.
These notes will also not be accepted in the banking system. Posts related to the viral message started being shared, creating confusion among people. Now PIB Fact Check has revealed the real truth behind this viral news.
What is the truth?
PIB Fact Check has revealed the news of withdrawal of ₹500 note as completely fake. The official fact-checking wing of the government shared a post on its official account to refute the claim.
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RBI has not taken any decision regarding demonetisation or validity of notes. The rumor about the ₹500 note is completely false. A periodic review of note recycling or release strategy does not mean that RBI is going to discontinue the ₹500 note; There is absolutely no truth in the news.