No, ₹500 notes are not going anywhere. Despite viral messages doing the rounds on social media, there is no plan to withdraw or stop circulation of ₹500 currency notes from March 2026, the government has clarified.
The rumours, which claimed that the Reserve Bank of India (RBI) would stop supplying ₹500 notes to ATMs and eventually phase them out, have been officially denied. Authorities say these claims are false, misleading, and completely unfounded.
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PIB Calls the Claims Fake
The Press Information Bureau (PIB), through its Fact Check unit, stepped in to shut down the speculation. It confirmed that the Reserve Bank of India has made no announcement about discontinuing ₹500 notes—either from ATMs or general circulation.
In a post on X (formerly Twitter), PIB urged citizens not to fall for unverified messages and to rely only on official government or RBI communication when it comes to sensitive issues like currency.
Simply put: ₹500 notes remain legal tender and can be freely used across the country.
Why ₹500 Notes Matter So Much
₹500 is currently the most widely used denomination in ATMs. While machines also dispense ₹100 and ₹200 notes, banks typically load more ₹500 notes because they make cash withdrawals smoother and quicker.
Removing or restricting this denomination would seriously disrupt day-to-day cash access and could easily trigger unnecessary panic. That’s exactly why the government says no such move is even being considered.
Not the First Time This Rumour Surfaced
This isn’t new. Similar claims popped up earlier as well. In June 2025, PIB had debunked a viral YouTube video that claimed ₹500 notes would be demonetised in March 2026. That claim, too, turned out to be fake.
These repeated rumours show how fast misinformation spreads—especially when it involves money.
What the Government Said in Parliament
The issue has also been addressed on the floor of Parliament. In August 2025, Pankaj Chaudhary, Minister of State for Finance, told the Rajya Sabha that the government does not propose to discontinue the supply of ₹500 notes.
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He added that ATMs will continue to dispense ₹500 notes along with other denominations like ₹100 and ₹200.
Bottom Line for the Public
There’s no truth to claims about ₹500 notes being withdrawn or phased out. The denomination remains valid, widely used, and fully supported by both the RBI and the government.
Officials have once again reminded people to verify information from trusted, official sources before believing or forwarding messages—especially when it comes to banking and currency.
