Rs 500 Note Not Being Discontinued: PIB Fact Check Debunks Viral Claim

In the age of viral misinformation, yet another baseless rumour is doing the rounds-this time claiming that the Reserve Bank of India (RBI) will discontinue the circulation of Rs 500 currency notes by March 2026. The claim was made in a YouTube video posted by the channel 'Capital TV' (capitaltvind), sparking confusion and concern among viewers.

However, the Press Information Bureau (PIB) has categorically dismissed the claim as false and misleading.

What Was Claimed?

The now-viral video suggests that India's most widely used high-denomination note-the Rs 500 currency note-will be withdrawn from circulation within the next year. The video falsely attributes the move to the RBI as part of a broader currency overhaul.

PIB Fact Check: Rs 500 Notes Still Legal Tender

The official PIB Fact Check team took to social media platform X (formerly Twitter) to debunk the claim. In a tweet, PIB clarified:

• The Reserve Bank of India has made NO such announcement
• Rs 500 currency notes have NOT been discontinued and continue to be legal tender

Citizens are urged not to fall for such misinformation and to always verify financial news through official channels like RBI's website or government notifications.

Is the ₹500 note set to be phased out by 2026? 🤔

A #YouTube video on the YT Channel 'CAPITAL TV' (capitaltvind) falsely claims that the RBI will discontinue the circulation of ₹500 notes by March 2026.#PIBFactCheck

✔️@RBI has made NO such announcement.

✔️₹500 notes have… pic.twitter.com/NeJdcc72z2

— PIB Fact Check (@PIBFactCheck) June 3, 2025

RBI's Silence Confirms Status Quo

As of now, the RBI has issued no circular, press release or public communication indicating any plan to withdraw Rs 500 notes. These notes remain in active circulation and are accepted for all types of financial transactions across India.

Misinformation and Its Impact

The spread of such false claims can lead to unnecessary panic, hoarding of currency, and disruption in everyday transactions. Financial experts caution the public to avoid acting on unverified content, especially from unofficial YouTube channels or WhatsApp forwards.

Public Advisory: Verify Before You Share

Authorities urge citizens to:

• Check for announcements only on official RBI website (www.rbi.org.in)
• Follow PIB Fact Check and RBI social media handles for verified updates
• Refrain from forwarding unverified news that can cause confusion or fear