Did RBI Order Banks To Stop Dispensing INR 500 Notes From ATMs by September 2025? PIB Fact Check Debunks Fake News Message Going Viral on WhatsApp
A widely circulated message on social media and WhatsApp claims that the Reserve Bank of India (RBI) has directed all banks to stop dispensing INR 500 denomination banknotes through ATMs by September 30, 2025.
Mumbai, July 12: A widely circulated message on social media and WhatsApp claims that the Reserve Bank of India (RBI) has directed all banks to stop dispensing INR 500 denomination banknotes through ATMs by September 30, 2025. According to the WhatsApp message, the move to withdraw INR 500 notes from ATMs is undertaken with the ultimate aim to discontinue the note by March 2026.
The viral message further states that only INR 200 and INR 100 notes will be available from ATMs thereafter. The viral WhatsApp message has led to widespread confusion. However, a PIB Fact Check confirmed that no such directive has been issued. BSNL Sim Cards To Be Blocked Within 24 Hours As TRAI Suspends Customer KYC? PIB Fact Check Debunks Fake Notice Going Viral.
Is RBI Planning To Discontinue INR 500 Currency Notes? Here's What PIB Fact Check Says
Did RBI Order Banks To Stop Dispensing INR 500 Notes From ATMs by September 2025?
PIB Fact Check said that contrary to the viral claim, the INR 500 banknote continues to be legal tender and remains the highest denomination currency currently in circulation, following the withdrawal of INR 2000 notes announced on May 19, 2023. "Don’t fall for such misinformation. Always verify news from official sources before believing or sharing it!" PIB Fact Check wrote in an X post. The RBI has not made any announcement indicating that INR 500 notes will be phased out by March 2026 or any other future date.
The current INR 500 currency notes were introduced after the 2016 demonetisation exercise. The size of the note is 66mm x 150mm. The colour of the notes is stone grey, with the theme 'Indian heritage site - Red Fort'. Like other Indian Rupee banknotes, the INR 500 notes have their amount written in 17 languages - English, Hindi, Assamese, Bengali, Gujarati, Kannada, Kashmiri, Konkani, Malayalam, Marathi, Nepali, Odia, Punjabi, Sanskrit, Tamil, Telugu, and Urdu. Fact Check: Has the Government Commissioned a Nationwide Study on Sudden Deaths in India? Centre Debunks Fake News.
Has RBI Really Asked Banks To Stop Disbursing INR 500 Notes From ATMs? Centre Debunks Fake Message
Prime Minister Narendra Modi, on November 8, 2016, had demonetised the previous INR 500 notes as a measure to fight corruption in the country and address the issue of counterfeit banknotes. The news notes were replaced two days later. The RBI had also introduced the new INR 2,000 currency note during the demonetisation exercise. However, in May 2023, the notes were withdrawn from circulation, but they remained legal tender.
Fact check
RBI has directed all banks to stop dispensing INR 500 denomination banknotes through ATMs by September 30, 2025.
The claim made in WhatApp message is fake. No such instruction has been issued by the RBI.
(The above story first appeared on LatestLY on Jul 12, 2025 09:28 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).