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

ByFactcheck India

June 6, 2025
Is RBI Replacing Paper Notes With Plastic Currency by June 30, 2026? Here's the TruthFact Check: No New RBI Rules for Old ₹500 and ₹1,000 Notes, Viral Claim Is False

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 The ₹500 note is not being withdrawn, and the RBI has issued no notification to that effect.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.

By Factcheck India

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