The PIB has moved to crush viral social media rumors claiming the RBI plans to discontinue the ₹500 currency note. The scare began with an Instagram reel from the account “insightswithnicky,” which alleged the denomination would soon be withdrawn and become invalid. In its official fact check, PIB said there is no such announcement from the RBI and confirmed ₹500 notes remain legal tender with no plans for removal from the banking system. Authorities urged people to rely only on verified official sources.
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