The Press Information Bureau (PIB) has stepped in to quash a fresh wave of misinformation spreading across social media platforms regarding the future of India's ₹500 currency notes. The government's fact-checking unit has categorically labelled as false the claims that the Reserve Bank of India (RBI) will stop the circulation of these notes by March 2026.
PIB's Official Clarification on Social Media
In a clear and direct post on the social media platform X (formerly Twitter), the PIB addressed the circulating rumours head-on. The agency stated that the RBI has made absolutely no announcement about discontinuing the ₹500 denomination. The post urged the public to rely only on verified information from official channels and not to fall prey to unverified claims designed to create confusion.
The PIB's message was unequivocal: "₹500 notes have NOT been discontinued and remain legal tender." This means that these banknotes can and should be accepted for all transactions without any hesitation. The agency reinforced the importance of responsible information sharing, advising citizens to always cross-check such news with authoritative sources like the PIB or the RBI before believing or propagating it further.
A Recurring Rumour Repeatedly Debunked
This incident is not an isolated one. The government has had to clarify similar misleading claims about the demonetisation of ₹500 notes on multiple occasions in the past. As recently as June of this year, the PIB's fact-check unit had to issue a clarification on the same platform, X, dismissing identical rumours about a supposed 'demonetisation' event in March 2026. The agency had identified these claims as a deliberate attempt to spread misinformation among the masses.
That earlier round of rumours was fueled by a video from a YouTube channel where a news anchor made the baseless assertion. The government's swift rebuttal then, as now, aimed to prevent public panic and maintain trust in the national currency.
Government and Ministry Support the Stance
The PIB's fact-check is strongly supported by statements from the finance ministry. In August, Minister of State for Finance, Pankaj Chaudhary, provided an official statement in Parliament, putting all speculation to rest. He informed the lawmakers that there are no plans whatsoever to discontinue the supply of ₹500 banknotes.
He provided further reassurance by confirming that Automated Teller Machines (ATMs) across the country will continue to dispense ₹500 notes alongside other denominations like ₹100 and ₹200. This official parliamentary response serves as the most authoritative denial of any proposed withdrawal of the widely used currency note.
The consistent message from all official quarters is clear: disregard the fake news. The ₹500 note continues to be a pillar of daily economic transactions in India, and its status as legal tender remains unchallenged by the central bank or the government.
