Fact Check: Is RBI Discontinuing ₹500 Currency Notes? Here’s the Truth Behind the Viral Claim

Verdict: False

The Reserve Bank of India (RBI) is not discontinuing the ₹500 currency note. No such official announcement has been made.

What’s Going Viral?

A viral claim circulating on YouTube and social media platforms suggests that the ₹500 note will be discontinued by March 2026. The video, uploaded by a channel named ‘CAPITAL TV’, claims that the RBI plans to stop the circulation of ₹500 notes and phase them out over the next year. Several users have further amplified this misinformation on X (formerly Twitter), Facebook, and WhatsApp.

Fact-Check & Investigation

To verify this alarming claim, our team conducted a multi-layered investigation:

1. No Announcement from RBI

We searched the official RBI website and found no circular, press release, or official communication supporting this claim.

2. No Media Reports

A detailed Google Open Search yielded no credible news report suggesting that the ₹500 note will be discontinued.

3. PIB Debunks the Claim

India’s Press Information Bureau (PIB)—the government’s official fact-checking arm—categorically debunked the viral video. In a tweet, PIB clarified:

“A YouTube video falsely claims that RBI will discontinue ₹500 notes by March 2026. RBI has made NO such announcement. ₹500 notes remain legal tender. Don’t fall for misinformation. Verify news from official sources.”

PIB’s Post on X:

RBI’s Latest Currency Guidelines

As of June 2025:

• ₹500 notes are in regular circulation.
• RBI has not announced any currency demonetization or withdrawal plans.
• Such rumors may cause panic or confusion among the public.

Why This Misinformation Matters

Rumors related to currency notes, especially high-value denominations like ₹500, can:

• Trigger unnecessary anxiety
• Cause people to withdraw or exchange currency unnecessarily
• Lead to fake financial decisions

Final Word: Don’t Believe or Share Unverified Claims

There is no truth to the viral video’s claim. The ₹500 note is not being withdrawn, and the RBI has issued no notification to that effect.

Factcheck India recommends our readers to always cross-check sensitive information with official government sources like the RBI website or the PIB Fact Check handle.