The government on Sunday refuted as rumor a viral WhatsApp message stating the Reserve Bank of India (RBI) had instructed banks to discontinue dispensing ₹500 notes from ATMs by September 30, deeming the information to be entirely unsubstantiated.
The false message also indicated that by March 31, 2026, 90% of ATMs would cease dispensing ₹500 notes, and 75% would stop by this September. It advised recipients to begin "liquidating" their ₹500 notes, indicating that only ₹100 and ₹200 notes would be made available through ATMs.
In response to the allegations, Press Information Bureau's (PIB) Fact Check division confirmed on X (formerly Twitter) that there is no such direction from the RBI, and ₹500 notes are still legal tender.
"Has RBI instructed banks to discontinue distributing Rs 500 notes from ATMs by September 2025? A wrongly created message stating exactly this is circulating on #WhatsApp. #PIBFactCheck, There is no such directive from the @RBI, Rs 500 notes will remain legal tender," read the official post.
The PIB Fact Check unit cautioned citizens to remain alert and cross-check any monetary news with official sources, adding that the rumours are meant to mislead the people.
"Don't be deceived by such false information. Always cross-check news with official sources before believing or sharing it!" the unit warned.
This is not the first time around that such misinformation has been spread. A similar claim had gone viral on WhatsApp the previous month, stating that the RBI was withdrawing ₹500 notes from ATMs by 2026. That, too, was refuted by the PIB Fact Check team then.
The authorities keep emphasizing exercising caution in the viral messaging era by asking individuals to be dependent solely on valid sources such as RBI releases or PIB's fact-checking handle to get verifiable updates about currency and financial policy.
As fake news gains popularity, especially about currency directives, the officials remind us to not spread unverified news.
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