Rs 500 notes to be discontinued? PIB calls viral claim fake; YouTube video behind panic
The central government has dismissed claims that Rs 500 currency notes will be phased out by March 2026.
On Tuesday, the Press Information Bureau (PIB) issued a fact check on social media, clarifying that the viral news was fake.
It confirmed that Rs 500 notes continue to be legal tender and advised people not to fall for such misinformation.
Citizens were also urged to verify any such claims through official sources before believing or sharing them.
The clarification came after a YouTube channel named CAPITAL TV claimed that the government was planning to discontinue the Rs 500 note by 2026. The video led to confusion and panic among public.
The speculation may have intensified after the Reserve Bank of India (
RBI
) issued a circular in April 2025, according to the economic times. The circular asked banks and White Label ATM Operators (WLAOs) to increase the availability of Rs 100 and Rs 200 notes in ATMs.
The Press Information Bureau has been actively working to counter misinformation related to government. In November 2019, it set up a dedicated Fact Check Unit (FCU) to address the growing spread of fake news. Citizens can report suspicious claims through WhatsApp, email, or the official web portal.
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