RBI said that due to lack of detailed information about the RBI’s decision, claims of 500 notes being discontinued are being made through social media.
The decision of Prime Minister Narendra Modi and RBI to demonetize in 2016 was no less than a punishment for the common and poor people of the country. At that time, black money was converted into a single number with the connivance of bank employees on a large scale.
The situation was such that common people used to stand in queues to get their earnings converted to thousands of rupees. There was a big game inside the bank, money illegally buried in the form of 1000/500 notes was converted into 2000 notes by fixing a commission, many people also had to lose their lives during demonetization.
This decision of the government was opposed on a large scale. To overcome the shortcomings of the demonetization decision, the RBI and the central government chose a different path to remove the 2000 notes from the market. The government issued instructions to the banks that they can deposit 2000 notes but will return 500, 200 and 100 notes to their customers. With this decision, the 2000 note was removed from the market after some time.
For the past few months, people have been spreading the news through social media that the government and RBI have decided to remove 500 notes from the market and continue to circulate 200 and 100 notes.
Till the time of writing, SNPNEWS.IN has not received any official information about any such decision, based on which we can say that the government has taken any decision to completely stop the 500 notes. To make it easier for people to get small notes, the RBI has asked all banks and white label ATM operators (WLAOs) to ensure that their ATMs regularly dispense Rs 100 or Rs 200 notes.
A decision by the RBI after which an atmosphere of fear is being created through rumours According to the guidelines issued by the RBI, the banks have been asked to take this decision in an attempt to increase public access to frequently used small denomination notes.
According to the circular, all banks and white label ATM operators (WLAOs) will ensure that their ATMs regularly dispense Rs 100 and Rs 200 notes. The circular further states that by September 30, 2025, 75 percent of all ATMs will dispense Rs 100 or Rs 200 notes from at least one cassette. By March 31, 2026, 90 percent of all ATMs will dispense Rs 100 or Rs 200 notes from at least one cassette.
PIB Fact Check has declared the viral message being circulated on social media as completely fake. They clarified that the Reserve Bank has not given any such order and Rs 500 notes are fully valid. People can use them without any worries.