₹500 note in India

Is ₹500 Note Being Phased Out? RBI Tells Banks to Stock ₹100 & ₹200 Notes!

The Reserve Bank of India (RBI) has clarified that the ₹500 note remains legal tender, dispelling rumors of its discontinuation. The RBI's recent directive focuses on enhancing the availability of ₹100 and ₹200 notes through ATMs to facilitate daily transactions, especially for small-value purchases. This move aims to improve public access to commonly used denominations without phasing out the ₹500 note.