Rs 500 Notes Stay Strong — PIB Fact Check Puts Rumor to Rest

Image Source: Ndtv

A viral WhatsApp message stating Reserve Bank of India (RBI) will be phasing out Rs 500 currency by March 2026 has created panic. The Press Information Bureau (PIB) has now stepped in to disprove the rumors, ensuring Rs 500 currency is legal tender and no such notification has been issued.

Key Highlights
- The misleading message said RBI directed banks to stop dispensing Rs 500 notes from ATMs by September 2025 and phase down 90% by March 2026
- It also asserted that ATMs would only give Rs 100 and Rs 200 notes, and asked citizens to exchange Rs 500 notes at the earliest
- PIB Fact Check has made it clear through social media that RBI has not issued any such direction and Rs 500 notes are still acceptable for all purposes
- RBI's April 2025 official circular merely requested banks and White Label ATM Operators to provide additional Rs 100 and Rs 200 notes — and not withdraw Rs 500 notes

What Triggered the Panic
- The April circular aimed to increase access to small amounts of money for small transactions
- Misinterpretation of this just action probably ignited the viral disinformation - There is no RBI notification, press release, or official statement supporting phasing out Rs 500 notes.

Public Advisory

People are requested to authenticate financial news on official portals such as the RBI web page or PIB Fact Check before they take action on viral messages. Rs 500 notes are completely valid and are still in circulation.

Sources: NDTV, Times Now, Republic World, Fact Crescendo, News18 Hindi, CAclubindia