By MumbaiNews24 | Updated: July 6, 2025
Social media platforms like WhatsApp, Facebook, and Telegram are once again witnessing a wave of panic among Indian citizens over a viral claim suggesting that the ₹500 currency note is being discontinued. The message, widely circulated with what appears to be fake RBI circulars and fabricated news screenshots, has sparked fear and confusion across the country.
But is there any truth to these rumors?
MumbaiNews24 has thoroughly investigated this claim and can confirm that it is completely false. The ₹500 note remains legal tender.
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What Is the Viral Claim?
The viral message reads:
“Breaking News: RBI announces ₹500 notes will no longer be valid after July 10, 2025. People are advised to deposit or exchange their notes immediately.”
This alarming message is accompanied by an image resembling a formal RBI notice and a fake news bulletin screenshot, both designed to mislead the public. Several people have rushed to banks or tried to deposit their ₹500 notes out of fear—only to be told by bank staff that no such instruction exists.
The Reality: ₹500 Note Is NOT Being Withdrawn
Let’s be very clear—the ₹500 currency note has NOT been discontinued.
There has been no official announcement from:
- The Reserve Bank of India (RBI)
- The Finance Ministry
- The Government of India
Bankers, shopkeepers, and ATM operators are continuing to accept and dispense ₹500 notes without any issue. There is no plan to withdraw this denomination, and it remains valid for all transactions.
What Did the RBI Say?
On July 6, 2025, the Reserve Bank of India issued an official clarification through its website and social media handles:
“There is no change in the legal status of ₹500 denomination banknotes. The claim circulating on social media is fake.”
This statement was also picked up by the Press Information Bureau (PIB), which posted a fact check via its @PIBFactCheck X (Twitter) handle, categorically calling the viral message misleading and fake.
Why Do Such Rumors Spread?
This isn’t the first time currency-related misinformation has gone viral. In the digital age, doctored images and videos can be shared in seconds, often with no source or verification. Many of these hoaxes play on the public’s memory of the 2016 demonetization, when ₹500 and ₹1000 notes were actually withdrawn overnight.
Unfortunately, such messages often resurface during politically or economically sensitive times, or when inflation and banking regulations are hot topics.
How to Verify Currency News Before Believing It
Here are five quick ways to verify currency-related news:
- Check RBI’s official website – All announcements are published at www.rbi.org.in
- Follow @PIBFactCheck – India’s government fact-check handle is reliable and fast.
- Ignore forwarded messages that lack official links or source citations.
- Cross-check with trusted news sources (not just blogs or YouTube channels).
- Be cautious of edited images or unverified circulars with no signature, reference number, or date.
What You Need to Know (Summary)
| ✅ Confirmed Facts | ❌ Viral Claims |
|---|---|
| ₹500 notes remain legal tender | Notes are being discontinued |
| No RBI announcement | Fake circular being shared |
| PIB & RBI confirmed the news is fake | Social media is spreading unverified info |
| Banks are accepting ₹500 notes | People rushing to banks needlessly |
Final Word from MumbaiNews24
As of today, July 6, 2025, the ₹500 note remains valid for all forms of transactions in India. The viral message claiming its withdrawal is fake and misleading. There is no deadline to deposit ₹500 notes, and no circular has been issued by the RBI or any government body to support this rumor.
We strongly urge our readers to:
- Verify any financial or currency information using official sources
- Avoid forwarding unverified messages
- Stay informed through credible platforms
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