A post is doing the rounds on social media platforms claiming that the Reserve Bank of India (RBI) will discontinue the circulation of Rs 500 banknotes from ATMs by March 2026.
What's the truth?: As of writing this report, there is no available evidence to support the claim that RBI indeed has made such an announcement.
Additionally, the Press Information Bureau's (PIB) fact-checking wing clarified that the viral claim is fake.
No news reports: Team WebQoof did not find any credible news reports or information available in public domain that supported the claim of RBI discontinuing Rs 500 banknotes from ATMs.
It should be noted that multiple news reports would have been available if RBI had issued such an announcement, given the gravity of the situation.
PIB debunks the claim: The fact-checking wing of the PIB clarified on their official X handle that the viral claim was fake.
The post shared on 2 January further said, "@RBI has made NO such announcement. ₹500 notes have NOT been discontinued and remain legal tender."
Conclusion: Evidently, the claim of RBI discontinuing Rs 500 banknotes from ATMs by March 2026 is false.
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