Overview

• PIB Fact Check refuted a viral Capital TV YouTube video that claimed ₹500 notes would be phased out by March 2026.
• As of March 31, 2025, ₹500 notes accounted for 40.9% of total volume and 86% of total value of banknotes in circulation, according to the RBI’s annual report.
• An April RBI circular requires banks and White Label ATM operators to ensure 75% of ATMs dispense ₹100 or ₹200 notes by September 30, 2025.
• The directive scales up to 90% of ATMs dispensing smaller denominations by March 31, 2026, to improve public access to frequently used banknotes.
• As part of its currency management policy, the RBI has retrieved 98.26% of withdrawn ₹2,000 notes by May 31, 2025.