RBI Banning ₹500 Notes by 2026? Fact-Check Reveals Truth

Confusion is at its peak over a viral WhatsApp message. It is being claimed that the Reserve Bank of India (RBI) is preparing to phase out the Rs 500 note by March 2026. Is this news true?

The RBI has officially termed the news about the Rs 500 note as false and misleading.

The WhatsApp message, which has been forwarded multiple times, alleges that the RBI has directed all banks to gradually phase out Rs 500 notes from 75% of ATMs by September 30 and Rs 500 notes from 90% of ATMs by March 31, 2026. As a result, it has urged the public to withdraw their Rs 500 notes before that period.

The viral message says, "RBI has asked all banks to stop dispensing Rs 500 notes from ATMs by September 30, 2025. By this time, at least 75% of ATMs will stop dispensing notes. By March 31, 2026, this rule will have to be implemented in 390% of ATMs. Only Rs 200 and Rs 100 notes will be dispensed from ATMs. So start cancelling your Rs 500 notes from now on."

The fact check unit of the Press Information Bureau (PIB) has called this message completely false. Posting on the organization's own x-handle, the PIB Fact Check department clarified that the RBI has not issued any such directive and transactions in Rs 500 notes will be considered completely valid.

PIB is advising people not to fall prey to such misinformation. The organization has also warned, "Always confirm any news from official sources before believing or sharing it."