500 Rupees Note : In recent days, a piece of news has been rapidly circulating on various social media platforms, creating confusion and concern among the public, especially those who frequently use ₹500 currency notes. The viral claim suggests that the Government of India and the Reserve Bank of India (RBI) are planning to discontinue ₹500 currency notes by the year 2026 in a phased manner. This news has triggered widespread discussions and speculations across YouTube channels, WhatsApp forwards, and other online platforms.
500 Rupees Note : Origin of the Rumor
The rumor seems to have gained traction after a video was uploaded by a YouTube channel called “Capital TV”, which claimed that the RBI is working on a strategy to phase out ₹500 notes by March 2026. The video was widely shared and quickly went viral, causing panic among people who rely on these notes for daily transactions. However, upon closer inspection, there appears to be no official statement or credible source backing this claim.
500 Rupees Note : Government Clarification: No Such Plan Exists
To put an end to the growing confusion, the Press Information Bureau’s (PIB) Fact Check unit stepped in to verify the authenticity of the claim. According to PIB Fact Check, there has been no official announcement from either the Reserve Bank of India (RBI) or the Government of India regarding the discontinuation of ₹500 notes. The PIB has labelled this news as “fake and misleading”.
The ₹500 currency note continues to be legal tender and is actively being used for transactions across the country. There is no RBI circular or notification that supports the idea of ₹500 notes being removed from circulation.
500 Rupees Note : The Confusion Around RBI’s April 2025 Circular
The confusion may have been fueled by an RBI circular issued in April 2025, which instructed banks and white-label ATM operators to increase the circulation of ₹100 and ₹200 denomination notes through ATMs. The purpose behind this directive was to ensure greater availability of smaller denominations for the convenience of the public, particularly in rural and semi-urban areas where change can be hard to come by.
However, it’s important to note that this move by RBI does not imply that ₹500 notes are being withdrawn. Rather, it is a step toward promoting balanced currency circulation and addressing logistical challenges, such as the need for change in markets and among small traders. Misinterpreting this guideline as an indication of ₹500 notes being phased out is incorrect and misleading.
500 Rupees Note : No Official Confirmation from RBI
As of now, RBI has not issued any statement, press release, or circular that confirms the discontinuation of ₹500 notes, either immediately or in the future. Any such major currency decision would be formally announced by the central bank and widely covered by credible news sources and government agencies. Given the economic implications of demonetizing a widely used currency note, such decisions are never taken or implemented secretly.
Previous Demonetization Experience and Public Sensitivity
The public’s concern around this news may also be rooted in the 2016 demonetization move, when the Government of India announced the sudden discontinuation of ₹500 and ₹1000 notes to curb black money, counterfeit currency, and corruption. The decision had widespread economic and social impact, and naturally, people are now more alert to any news suggesting a similar event.
However, the current situation is completely different. There is no indication from any official authority that such a drastic measure is being planned again, especially concerning ₹500 notes, which form a significant portion of the current currency in circulation.
Beware of Misinformation and Fake Videos
The spread of such misleading news highlights the importance of fact-checking and verifying information before sharing or believing it. The viral video by “Capital TV” and similar channels has not cited any credible source, government notification, or statement from RBI officials. The sole purpose of such content often is to gain views, followers, and engagement, even if it means spreading panic among viewers.
Voice Call Scam Impersonating RBI
In addition to the fake news about ₹500 notes, the PIB Fact Check unit also issued a warning about another ongoing scam involving voice call frauds that impersonate the Reserve Bank of India. In these calls, fraudsters claim that your bank account is at risk due to a credit card issue and ask the recipient to press a number for further assistance.
These voice messages are not from the RBI. They are part of a phishing scam designed to trick people into revealing personal and financial information. The RBI never contacts individuals directly through calls for such issues, nor does it request sensitive details over the phone. Citizens are urged to ignore such calls, report them, and avoid sharing personal information with unknown callers.
Role of Press Information Bureau (PIB)
The Press Information Bureau (PIB) is the nodal agency of the Government of India responsible for disseminating accurate information regarding government policies, programs, and announcements. The PIB Fact Check unit specifically addresses misinformation and fake news circulating on social and digital platforms. It is advisable to follow PIB Fact Check on official platforms like Twitter, Facebook, or its website to stay updated with verified information.
Conclusion : Don’t Panic, Stay Informed
To summarize, the news regarding the discontinuation of ₹500 currency notes by 2026 is fake. Neither the RBI nor the central government has made any such announcement. The ₹500 note remains a legal and valid currency for all transactions across India. The confusion likely stems from a misinterpretation of RBI’s April 2025 circular, which only encourages banks to ensure better availability of smaller denomination notes.
In today’s digital age, misinformation spreads quickly. It is essential for citizens to verify facts from official sources before reacting or forwarding such news. Always rely on trusted media outlets, government notifications, and platforms like PIB Fact Check to confirm any claim, especially those related to national currency, financial matters, or public safety.
