The Central government on Friday dismissed as false a series of social media claims suggesting that the Reserve Bank of India (RBI) would stop dispensing Rs 500 currency notes through ATMs by March 2026, clarifying that no such decision has been taken and that the notes remain legal tender.
The clarification was issued by PIB Fact Check, the official fact-checking unit of the Press Information Bureau, after misleading posts began circulating widely on social media platforms. In a statement shared on X, PIB Fact Check said the claims were “completely fake” and had no basis in any announcement or directive from the RBI.
According to the fact-check unit, some posts alleged that the RBI planned to discontinue the circulation of Rs 500 notes by March 2026. “This claim is fake,” PIB Fact Check stated, adding that the central bank “has made no such announcement.”
Reiterating the status of the currency, PIB Fact Check said that Rs 500 notes have not been discontinued and continue to be valid legal tender. It urged the public not to fall for misinformation and advised users to verify financial updates through official sources before believing or sharing such content.
The government noted that similar rumours have surfaced multiple times in the past and have been consistently debunked. In August last year, authorities had termed “untrue” a WhatsApp message claiming that the RBI had instructed banks to stop issuing Rs 500 notes via ATMs by September 30. That message had also alleged that 90 per cent of ATMs would stop dispensing Rs 500 notes by March 31, 2026, and 75 per cent by September 30.
At the time, PIB Fact Check had clarified that the RBI had issued no such instructions and that Rs 500 notes continued to be legal tender. The unit had cautioned the public against believing or forwarding such deceptive messages, stating that they were intended to mislead.
A similar claim had also gone viral in July, asserting that the RBI had a phased plan to withdraw Rs 500 notes from ATMs by 2026. That allegation was also denied by PIB Fact Check, which confirmed that no directive had been issued by the central bank.
Officials said the repeated circulation of such misinformation highlights the need for greater public awareness and caution, particularly regarding financial matters. PIB Fact Check stressed that unverified claims about currency and banking systems can create unnecessary confusion and panic among citizens.
The fact-checking unit once again advised people to rely only on official communications from the RBI, the Ministry of Finance, or other authorised government platforms for accurate information. It also encouraged social media users to report suspicious or misleading content related to financial policies.
The government’s latest clarification comes amid continued efforts to counter online misinformation and reinforce trust in official channels, especially on issues that directly affect the public’s financial confidence.
