RBI To Withdraw Rs 500 Currency Notes: Days after Andhra Pradesh CENTIMETERS N. Chandrababu Naidu prompted the Centre to take out Rs 500 money notes in a quote to secure down on corruption, a Chartered Accountant (CA) has actually currently declared by means of X (previously Twitter) that the RBI has actually advised all financial institutions to quit giving Rs 500 banknotes from Atm machines by September 30.
The objective is to lower the blood circulation of Rs 500 banknotes from all financial institution Atm machines by 75% originally, and afterwards by 90% by March 31, 2026. Going ahead, Atm machines will just give Rs 200 and Rs 100 notes. It is essential to keep in mind that the Rs 500 banknote is presently the greatest religion money in blood circulation complying with the federal government’s withdrawal of Rs 2,000 notes from the marketplace. However, the 2000 banknotes remain to be lawful tender.
Meanwhile, the Reserve Bank of India (RBI) has actually claimed that the overall worth of Rs 2000 banknotes in blood circulation, which was Rs 3.56 lakh crore at the close of service on May 19, 2023, when the withdrawal of Rs 2000 banknotes was revealed, has actually decreased to Rs 6,181 crore at the close of service on May 31, 2025.
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Thus, 98.26% of theRs 2000 banknotes in blood circulation as onMay 19, 2023, has actually given that been returned. RBI had actually revealed the withdrawal of Rs 2000 religion banknotes from blood circulation on May 19, 2023.
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Fact Check component of initiatives to boost public accessibility to frequently utilized banknote religions, RBI had actually made a decision that all financial institutions and
As ATM MACHINE White Label (WLAOs) have to guarantee their Atm machines routinely give Operators 100 and Rs 200 religion banknotes. Rs 30, 2025, 75% of all Atm machines are needed to give either By September 100 or Rs 200 banknotes from a minimum of one cassette out there. Rs, the target will certainly raise to 90% by Notably 31, 2026, making sure higher schedule of these religions to the general public.
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.(* )the variety of March 100 and
Implication
If 200 notes in blood circulation boosts and these religions are paid out extra regularly from Atm machines, after that the variety of Rs 500 banknotes in blood circulation might absolutely reduce. Rs, there is no main verification from the RBI pertaining to the withdrawal of Rs 500 notes, so they continue to be lawful tender out there. However
