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The government fact-check unit debunked claims that RBI will stop Rs 500 notes from ATMs by March 2026
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The Reserve Bank of India has not announced discontinuation of Rs 500 banknotes, which remain legal tender
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PIB Fact Check warned against misinformation and urged verification from official sources before sharing
A fact-checking unit of the Central government debunked false claims that the Reserve Bank of India will discontinue the circulation of Rs 500 banknotes from ATMs by March 2026.
"Some social media posts claim that the Reserve Bank of India will discontinue the circulation of ₹500 notes by March 2026. This claim is fake!," PIB Fact Check posted on social media platform X on Friday.
The RBI has made no such announcement and the banknote remains legal tender, the post added. The currency note of Rs 500 is the highest denomination in India.
"Don’t fall for such misinformation. Always verify news from official sources before believing or sharing it!," it added.
In a separate post, the PIB Fact Check busted false claims made in an Instagram video that the Income-Tax Department tracks people’s personal digital activity, online spending, or lifestyle.
"The Income-tax Department does NOT track online shopping, digital payments, app-based transactions, or any form of personal spending behaviour. There is no mechanism to monitor an individual’s digital or online activity," PIB Fact Check said.
"Reporting under Section 285BA of the Income Tax Act, 1961 does not involve surveillance. The Statement of Financial Transactions (SFT) framework requires specified entities (banks, registrars, etc.) to report limited high-value transactions as part of routine compliance. These provisions have existed for years and do not involve behavioural profiling or online activity monitoring," it added.
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