Will Rs 500 Currency Notes Be Discontinued Next Year? Here’s What Govt Said

New Delhi: A viral YouTube video lately claimed that Rs 500 forex notes will forestall getting used from March subsequent yr. However, the Central executive has disregarded those claims. In a submit on X, the Press Information Bureau (PIB) clarified that the Reserve Bank of India (RBI) has made no such announcement, and Rs 500 notes will proceed to be legitimate for transactions.

A video posted at the YouTube channel ‘CAPITAL TV’ has created confusion through claiming that Rs 500 notes can be discontinued through March 2026. Clearing the air, the Press Information Bureau (PIB) shared a fact-check submit on X, announcing: “A YouTube video on the YT Channel ‘CAPITAL TV’ (capitaltvind) falsely claims that the RBI will discontinue the circulation of Rs 500 notes by March 2026. RBI has made NO such announcement. Rs 500 notes have NOT been discontinued and remain legal tender.”

The fact-check was once issued after a YouTube video claimed that the federal government plans to segment out Rs 500 notes from March subsequent yr, very similar to the withdrawal of Rs 2000 notes. The 12-minute video, which has already garnered over 5 lakh perspectives could also be being extensively circulated on different social media platforms.

However, government have denied the claims made within the video and prompt other people to be wary about such deceptive content material. “Don’t fall for such misinformation. Always verify news from official sources before believing or sharing it,” the PIB added in its submit.

The Rs 500 notes these days in move have been presented after the 2016 demonetisation. These notes are stone gray in color, measure 66mm through 150mm, and have the Red Fort as a part of the ‘Indian heritage site’ theme. Like all Indian forex notes, the Rs 500 observe shows its price in 17 languages, together with English, Hindi, Bengali, Tamil, Telugu, and extra.

On November 8, 2016, Prime Minister Narendra Modi introduced the demonetisation of the outdated Rs 500 notes to take on corruption and curb the unfold of pretend forex. Just two days later, new Rs 500 notes have been presented, along side a brand new Rs 2,000 observe. However, in May 2023, the Rs 2,000 notes have been withdrawn from move, even supposing they nonetheless stay prison comfortable.

The RBI has introduced that the Rs 20 notes with the brand new governor’s signature will stay the similar in design as the present collection. It additionally confident the general public that every one in the past issued Rs 20 notes will proceed to be legitimate and stay prison comfortable around the nation.