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The Central government has rejected the claims made in a YouTube video that the Rs 500 currency not would be phased out from circulation from March next year. In a post on X the Press Information Bureau (PIB) fact-checked the claim stating that no such announcement has been made by the Reserve Bank of India (RBI) and Rs 500 notes would continue to remain legal tender. A YouTube video on the YT Channel CAPITAL TV (capitaltvind) falsely claims that the RBI will discontinue the circulation of Rs 500 notes by March 2026. RBI has made NO such announcement. Rs 500 notes have NOT been discontinued and remain legal tender the PIB informed. The fact-check came after a video on video-sharing platform YouTube claimed that the government was planning to phase out the Rs 500 note from March next year akin to how Rs 2000 currency notes were removed from circulation. The 12-minute video which has over 5 lakh views on YouTube has been widely shared on other social media platforms. However authorities have rejected the claims made in the video and urged netizens to always verify such information from official sources. Don’t fall for such misinformation. Always verify news from official sources before believing or sharing it the PIB added in its post. Earlier the government phased out the Rs 2000 notes urging people to deposit this denomination in the banks. However Rs 2000 are still considered legal tender and Rs 6181 crore worth of notes are still in circulation according to media reports. Currently Rs 500 is most widely-circulated currency note in India accounting for 41% of the total notes with an 86% share in transactions done via cash. The government is urging citizens to use smaller denominations and digital payments but Rs 500 notes continues to be a big part of cash transactions in the country.