By buld_online 
A viral YouTube video claimed that the government will stop the circulation of Rs 500 notes from March 2026. However, the Press Information Bureau (PIB) has confirmed that this claim is completely false.
The video, posted by a YouTube channel, alleges that the Reserve Bank of India (RBI) plans to phase out Rs 500 notes gradually starting in 2026. The video, over 11 minutes long, has already crossed 4.5 lakh views.
Confusion emerged after the RBI instructed banks and ATM operators to increase the availability of Rs 100 and Rs 200 notes. The move, however, was intended to address public complaints over the lack of small change, not to phase out the Rs 500 denomination.
PIB has now denied the claim. It stated clearly that the RBI has not made any such announcement. The Rs 500 notes remain legal tender, and there is no plan to withdraw them from circulation.
PIB clarified that no policy or directive has been issued by the RBI regarding the removal of ₹500 notes. The currency will continue to be valid.
PIB urged citizens not to believe or share such misinformation. People should always verify news from official sources before forwarding it. Relying on unverified claims, especially those related to government policies or currency, can create unnecessary panic.
What should you do?
Always check official government or RBI notifications.
Avoid sharing unverified videos or messages.
Follow trusted news sources for updates.
Report fake content on platforms where it is found.
Counterfeit notes of Rs 500 denomination
According to the Reserve Bank of India’s annual report, the detection of counterfeit Rs 500 denomination notes (excluding specified banknotes) in the banking system increased by 37.35% year-on-year, reaching 1,17,722 in 2024–25 from 85,711 in 2023–24. This marks the highest level in six years (since FY20). Additionally, the number of counterfeit notes below Rs 200 denomination saw a 13.9% YoY increase to 32,600 pieces. However, the detection of fake Rs 100 denomination notes decreased by nearly 23% YoY to 51,069 pieces.
In a Lok Sabha session in November 2024, Minister of State for Finance Pankaj Chaudhary reported that counterfeit Rs 500 notes from the Mahatma Gandhi (new) series had risen to 85,711 pieces in 2023–24, up from 21,865 in 2018–19. Detection of fake Rs 2000 denomination notes also saw an increase to 26,035 from 21,847 over the same period.
Despite the rise in fake Rs 500 notes, the overall number of counterfeit notes detected decreased to 2,17,396 pieces in FY25, compared to 2,22,638 in FY24, as per the RBI’s report.