₹500 notes won’t be discontinued by 2026: PIB Fact Check
In today’s digital age, misinformation has become a growing concern, and it’s essential to rely on credible sources for accurate information. Recently, a YouTube video on the channel ‘CAPITAL TV’ claimed that the Reserve Bank of India (RBI) would discontinue the circulation of ₹500 notes by March 2026. However, the Press Information Bureau’s (PIB) Fact Check unit has debunked this claim, stating that the ₹500 notes will not be phased out by 2026 and will remain legal tender.
The PIB’s Fact Check unit is responsible for verifying the authenticity of information and statements made by government officials, institutions, and organizations. In this case, they took to Twitter to clarify the misinformation spread by the YouTube video. “Don’t fall for such misinformation,” the tweet read. “₹500 notes will not be discontinued by 2026. RBI has not made any such announcement.”
The PIB’s statement is a timely reminder of the importance of fact-checking and verifying information before sharing it. In today’s digital landscape, misinformation can spread rapidly, often with devastating consequences. It’s crucial that we rely on credible sources and fact-check before accepting information as true.
The ₹500 note has been a widely used denomination in India since its introduction in 1985. It’s an essential part of the country’s currency system, and its discontinuation would have significant implications on the economy. The RBI regularly issues and withdraws currency notes as part of its monetary policy, but there has been no official announcement about the discontinuation of the ₹500 note.
It’s worth noting that the RBI has been taking steps to phase out higher denomination notes in recent years. In 2016, the government demonetized ₹500 and ₹1000 notes as part of a broader effort to combat black money and corruption. However, this move was a one-time event, and there have been no subsequent announcements about the discontinuation of other denominations.
The PIB’s Fact Check unit has been actively working to combat misinformation and fake news. They have debunked several claims and statements made by various individuals and organizations, and have been instrumental in promoting fact-checking and media literacy in the country.
In conclusion, the ₹500 notes will not be discontinued by 2026, and will remain legal tender. The RBI has not made any such announcement, and the PIB’s Fact Check unit has verified this information. It’s essential that we rely on credible sources and fact-check before accepting information as true. By doing so, we can help combat misinformation and promote a culture of fact-checking and media literacy.
Source:
https://x.com/PIBFactCheck/status/1929898698290672131
