Attention! Modi government will not withdraw ₹500 notes from circulation
What's the story
A viral YouTube video has claimed that the Indian government will withdraw ₹500 notes from circulation starting March 2026. The Press Information Bureau (PIB) has announced that this claim is completely false. The video, which has garnered over 450,000 views, was uploaded by a channel called "Capital TV" and alleged that the Reserve Bank of India (RBI) would gradually phase out ₹500 notes from next year.
Official statement
PIB debunks viral claim
The PIB has issued a clarification, stating that the RBI has not made any announcement regarding the withdrawal of ₹500 notes. It emphasized that these notes are still legal tender and there are no plans to remove them from circulation. The bureau has also urged citizens not to believe or share such misinformation and always verify the news from official sources before forwarding it.
Warning
Always check government notifications
The PIB has warned against the dangers of sharing unverified information, particularly when it comes to government policies or currency. It can lead to unnecessary panic among the public. It has also urged citizens to report fake content on platforms where it is found.
ATM update
RBI's new guidelines for ATMs
In April, the RBI had ordered banks to ensure ATMs dispense ₹100 or ₹200 denomination notes. This was done to enhance public access to these frequently used denominations. According to a circular, by September 30, 2025, 75% of all ATMs should dispense either ₹100 or ₹200 denomination notes from at least one cassette and by March 31, 2026, this would increase to 90%.