India, June 7 -- The Centre debunked claims that the Rs.500 currency note will be discontinued by next year, trying to calm the panic among the people caused by the claim.

The panic over the future of currency notes began recently when a video on YouTube went viral over the past few days, claiming that the Rs.500 notes will be phased out starting March 2026. The 12-minute-long video, uploaded on a channel named Capital TV and gaining more than five lakh views since June 2, triggered confusion and panic among people.

The union government responded to the claims through the Press Information Bureau (PIB) fact-check unit, saying the Reserve Bank of India (RBI) has not made any such announcement. The Indian government's official fact-checki...