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A video posted on YouTube claiming that the Rs 500 note will be banned by 2026 has become viral and gaining so many views from the last few days. The 12-minite video was posted on June 2 on a YouTube channel.

However, the government has clarified and said that RBI has not made any such announcement.

"Rs 500 notes have NOT been discontinued and remain legal tender," the Press Information Bureau (PIB) Fact Check division - the Indian government's official fact-checking agency, wrote in a post on X.

It also advised citizens not to fall for misinformation.

"Always verify news from official sources before believing or sharing it," it said.Is the ₹500 note set to be phased out by 2026? 

A #YouTube video on the YT Channel 'CAPITAL TV' (capitaltvind) falsely claims that the RBI will discontinue the circulation of ₹500 notes by March 2026.#PIBFactCheck

✔️@RBI has made NO such announcement.

✔️₹500 notes have… pic.twitter.com/NeJdcc72z2

— PIB Fact Check (@PIBFactCheck) June 3, 2025

Rs 500 notes were introduced after the 2016 demonetisation exercise. 

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