Rs 500 notes to be banned from ATMs by March 2026? Modi government issues statement, says…

A message making rounds on social media, claiming that the RBI will stop the distribution of Rs 500 notes from ATMs starting March 2026.

Written by: Victor Dasgupta Edited by: Victor Dasgupta

Published: January 22, 2026, 2:44 PM IST

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https://www.india.com/business/reserve-bank-of-india-rbi-500-notes-nirmala-sitharaman-budget-2025-finance-ministry-press-information-bureau-pib-update-fact-check-8277725/ Copy

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New Delhi: The Modi government has debunked the claims that the Reserve Bank of India will discontinue the circulation of five-hundred-rupee notes by March this year. As per the fact-check unit of the Press Information Bureau, the claim is fake and no such announcement was made by the RBI. The unit also said that five-hundred-rupee notes are still legal tender.

A message making rounds on social media, claiming that the RBI will stop the distribution of Rs 500 notes from ATMs starting March 2026. The message also said that the government plans to stop circulating Rs 500 notes in March 2026.

RBI to stop ₹500 notes from ATMs by March 2026❓

Some social media posts claim that the Reserve Bank of India will discontinue the circulation of ₹500 notes by March 2026.#PIBFactCheck:

❌This claim is #fake!

✅ @RBI has made NO such announcement.

✅ ₹500 notes have… pic.twitter.com/F0Y3t0wHSf

— PIB Fact Check (@PIBFactCheck) January 2, 2026

The PIB Fact Check team said that all such claims are fake and the RBI has made no such announcement. The PIB Fact Check team has assured people that Rs 500 currency note continues to be legal tender and people can use it for cash transactions.