Overview
- PIB Fact Check said social media posts claiming the RBI would stop ₹500 notes from ATMs by March 2026 are fake and that no such announcement has been made.
- Authorities reiterated that ₹500 banknotes remain legal tender and have not been discontinued.
- The government advised the public to rely on official sources for financial information, warning that the viral messages are deceptive.
- Similar claims resurfaced multiple times last year, including assertions about phased withdrawals and ATM coverage, which were previously rejected by the fact-check unit.
- In August, Minister of State for Finance Pankaj Chaudhary informed Parliament there were no plans to end the supply of ₹500 notes and that ATMs would continue to dispense them alongside other denominations.