Indian currency Rs500 notes to be discontinued by 2026? Govt issues clarification
The government urged citizens to avoid spreading misinformation
A viral YouTube video has sparked panic by falsely claiming that Rs 500 notes will be withdrawn by March 2026. The central government, however, has firmly refuted the claim, labelling it as misinformation.
The video, uploaded by the YouTube channel ‘Capital TV’ on June 2, alleges that the phase-out of Rs 500 notes will begin in March next year. The 12-minute clip has garnered over 500,000 views so far.
In response, the Press Information Bureau (PIB) issued a fact check on Tuesday, confirming that the claim is baseless. “Rs 500 notes have NOT been discontinued and remain legal tender,” the PIB Fact Check division wrote on X (formerly Twitter).
The government clarified that the Reserve Bank of India (RBI) has made no announcement regarding the withdrawal of Rs 500 notes. Officials urged citizens to avoid falling for such misinformation and to rely on official sources for verified information.
“Always verify news from official sources before believing or sharing it,” the PIB added.
The Rs 500 note, introduced after the 2016 demonetisation, is one of the most widely used denominations in India today. It continues to play a vital role in daily transactions across both urban and rural areas.
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