newscubicAfter the ban of 2000 rupee notes, the biggest currency in the country is the ₹500 note. It is also the most used note. Its share in the total notes is about 41%. If we talk about the value, it is 86%. However, for the past few days, a post is becoming increasingly viral on social media. In which it is being claimed that the government is going to ban 500 rupee notes soon. Let’s know how much truth is there in this.
Is the 500 rupee note being banned?
A post on social media is claiming that the Reserve Bank of India (RBI) is going to take a decision to ban the 500 rupee note soon. Along with this, it is also being claimed that in the coming time, only 100 or 200 rupee notes will come out from 90% of ATMs. After 2000 rupee notes, now preparations are being made to ban the 500 rupee note as well. Let us know when will these ₹500 notes be discontinued? Also, what is the government’s planning regarding this?
Know whether RBI is going to ban the notes
Let us tell you that RBI has not announced in any official document or officially that ₹500 notes are being discontinued. Also, no indication has been given regarding this on the basis of which this can be speculated. In such a situation, do not panic. ₹500 notes will remain in circulation as before. The claims made in the viral post are completely wrong. However, banks have definitely been instructed to increase the number of ₹100 and ₹200 notes in ATMs. So that common people can get small notes easily.
