There have been many claims that the RBI will withdraw Rs 500 notes after it issued a withdrawal of the Rs 2000 bank notes, stating a deadline of September 31.
The Reserve Bank of India (RBI) recently issued a notice, withdrawing the circulation of Rs 2000 banknotes, and passing a deadline of September 31 for all to exchange and deposit the bank notes with their nearest banks, without filling any forms or showing major documents.
After the withdrawal of the Rs 2000 notes, many people have been speculating that RBI will also be withdrawing the Rs 500 notes to reintroduce a newer form of the notes, and it might also reintroduce the Rs 1000 notes, which were banned during the 2016 demonetization.
As the rumours of Rs 500 notes being withdrawn and another introduction of the Rs 1000 notes in the country, the RBI has finally decided to address these rumours. RBI Governor Shaktikanta Das issued a statement in a press conference in this regard.
Dismissing all these rumours of the withdrawal of the Rs 500 notes, RBI chief Shaktikanta Das said, “The RBI is not thinking of withdrawing Rs 500 notes, or re-introducing notes in Rs 1,000 denomination; request public not to speculate.”
While dismissing the rumours of the return of Rs 1000 notes, the RBI chief also spoke about how people are now actively returning the Rs 2000 notes which were in circulation. Notably, the printing of the Rs 2000 notes was stopped in 2018.
RBI chief Shaktikanta Das said, “Total Rs 3.62 lakh crore of Rs 2,000 banknotes were in circulation. After the announcement, about Rs 1.8 lakh crores of Rs 2,000 banknotes have come back. This is roughly about 50 per cent of the Rs 2,000 banknotes, which were in circulation.”
Das also clarified that out of the total notes that have come back from circulation, 85 percent of them were returned through bank deposits.
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 "Will RBI withdraw Rs 500 notes, reintroduce Rs 1000 notes soon? Governor Shaktikanta Das reveals truth")
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