Latest news with #WLAOs
Time of India
08-08-2025
- Business
- Time of India
RBI has directed banks to stop disbursing Rs 500 notes from ATMs by September, 30 2025? Here is what government said
Academy Empower your mind, elevate your skills The Ministry of Finance has given a clarification on various media reports claiming that the circulation or dispensing of Rs 500 denomination notes at ATMs should be banned. "The Reserve Bank of India (RBI) continues to ensure a balanced mix of currency denominations to meet public transactional needs," the government said in answer to a parliamentary in a move to improve public access to smaller denominations, the RBI has directed all banks and White Label ATM Operators to ensure that at least 75% of ATMs dispense Rs 100 or Rs 200 notes by September 30, 2025, and 90% by March 31, initiative does not replace Rs 500 notes, but aims to enhance the availability of frequently used lower denominations for day-to-day to questions, the Ministry of Finance addressed key concerns raised by Members of Parliament regarding policy on Rs 500 notes and ATM a recent Rajya Sabha session held on August 5, 2025, Members of Parliament Yerram Venkata Subba Reddy, Milind Murali Deora asked the following questions on policy on Rs 500 notes and ATM government responded to the questions in Parliament: No Sir. The printing of banknotes of a particular denomination is decided by Government of India in consultation with Reserve Bank of India (RBI) to maintain desired denomination mix for facilitating transactional demand of government responded to the following questions with the below responses:There is no proposal to stop supply of Rs 500 denomination banknotes and ATMs will continue disbursing Rs 500 alongside Rs 100 / Rs 200. RBI has informed that as part of their endeavour to enhance public access to frequently used denominations of banknotes, a circular titled 'Dispensation of Rs 100 and Rs 200 Denomination Banknotes through ATMs' has been issued on April 28, 2025, directing all banks and White Label ATM Operators (WLAOs) to ensure that their ATMs dispense Rs 100 and Rs 200 denomination banknotes on a regular basis as per the following milestones:(i) 75% of all ATMs shall dispense either Rs 100 or Rs 200 denomination banknotes from at least one cassette by September 30, 2025.(ii) 90% of all ATMs shall dispense either Rs 100 or Rs 200 denomination banknotes from at least one cassette by March 31, 2026.
Economic Times
05-08-2025
- Business
- Economic Times
No proposal to stop supply of Rs 500 notes: MoS Finance
There is no proposal to stop supply of Rs 500 denomination banknotes and ATMs will continue disbursing Rs 500 alongside Rs 100 or Rs 200, Minister of State for Finance Pankaj Chaudhary informed Parliament on Tuesday. The Reserve Bank of India (RBI) has informed that as part of their endeavour to enhance public access to frequently used denominations of banknotes, a circular titled 'Dispensation of Rs 100 and Rs 200 denomination banknotes through ATMs' has been issued on April 28, 2025, directing all banks and White Label ATM Operators (WLAOs) to ensure that their ATMs dispense Rs 100 and Rs 200 denomination banknotes on a regular basis, he said. In a written response to the Rajya Sabha, he said, as per the milestones set by the RBI, 75 per cent of all ATMs would dispense either Rs 100 or Rs 200 denomination banknotes from at least one cassette by September 30, 2025. By March 31, 2026, he said, 90 per cent of all ATMs would dispense either Rs 100 or Rs 200 denomination banknotes from at least one cassette. Replying to another question, Chaudhary said Securities and Exchange Board of India (Sebi) has taken up 76 cases during the period from April 2020 to March 2025 or the last five financial years. During the last financial year, Sebi received Rs 949.43 crore from disgorgement. Disgorgement refers to the act of compelling a person or entity to surrender any ill-gotten gains obtained through illegal or unethical practices in the securities market. "Fraud and cheating are punishable offences as per Indian laws. Several central government, enforcement, and regulatory agencies have been taking action to prevent, detect, and act against investment related frauds," he said. In the last five years, the Central Board of Direct Taxes (CBDT) has identified nine cases, primarily relating to multi-level marketing (MLM) scams, he said. During the period from January 1, 2020 to July 30, 2025, the Directorate of Enforcement has taken up around 220 cases for investigation of the offence of money-laundering under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA), related to investment related frauds, he said. Crypto assets are currently not regulated in India, he said, adding that the RBI-SACHET portal receives complaints pertaining to unauthorised deposit taking activities from unregistered/unincorporated entities. Between April 1, 2020 and March 31, 2025, approximately 3,454 complaints have been received on the SACHET Portal pertaining to "non-repayment of money collected from various kinds of investment schemes", and 1,531 complaints have been received pertaining to collection of money through MLM, direct selling, and ponzi schemes, based on complaint categories selected by complainants, he said.
News18
05-08-2025
- Business
- News18
No proposal to stop supply of Rs 500 notes: MoS Finance
New Delhi, Aug 5 (PTI) There is no proposal to stop supply of Rs 500 denomination banknotes and ATMs will continue disbursing Rs 500 alongside Rs 100 or Rs 200, Minister of State for Finance Pankaj Chaudhary informed Parliament on Tuesday. The Reserve Bank of India (RBI) has informed that as part of their endeavour to enhance public access to frequently used denominations of banknotes, a circular titled 'Dispensation of Rs 100 and Rs 200 denomination banknotes through ATMs' has been issued on April 28, 2025, directing all banks and White Label ATM Operators (WLAOs) to ensure that their ATMs dispense Rs 100 and Rs 200 denomination banknotes on a regular basis, he said. In a written response to the Rajya Sabha, he said, as per the milestones set by the RBI, 75 per cent of all ATMs would dispense either Rs 100 or Rs 200 denomination banknotes from at least one cassette by September 30, 2025. By March 31, 2026, he said, 90 per cent of all ATMs would dispense either Rs 100 or Rs 200 denomination banknotes from at least one cassette. Replying to another question, Chaudhary said Securities and Exchange Board of India (Sebi) has taken up 76 cases during the period from April 2020 to March 2025 or the last five financial years. During the last financial year, Sebi received Rs 949.43 crore from disgorgement. Disgorgement refers to the act of compelling a person or entity to surrender any ill-gotten gains obtained through illegal or unethical practices in the securities market. 'Fraud and cheating are punishable offences as per Indian laws. Several central government, enforcement, and regulatory agencies have been taking action to prevent, detect, and act against investment related frauds," he said. In the last five years, the Central Board of Direct Taxes (CBDT) has identified nine cases, primarily relating to multi-level marketing (MLM) scams, he said. During the period from January 1, 2020 to July 30, 2025, the Directorate of Enforcement has taken up around 220 cases for investigation of the offence of money-laundering under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA), related to investment related frauds, he said. Crypto assets are currently not regulated in India, he said, adding that the RBI-SACHET portal receives complaints pertaining to unauthorised deposit taking activities from unregistered/unincorporated entities. Between April 1, 2020 and March 31, 2025, approximately 3,454 complaints have been received on the SACHET Portal pertaining to 'non-repayment of money collected from various kinds of investment schemes", and 1,531 complaints have been received pertaining to collection of money through MLM, direct selling, and ponzi schemes, based on complaint categories selected by complainants, he said. PTI DP TRB view comments First Published: August 05, 2025, 19:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
India.com
13-07-2025
- Business
- India.com
Rs 500 Notes To Be Phased Out By 2026? Viral Claim Sparks Panic – Here's The Truth
New Delhi: A viral message on WhatsApp has sparked panic across the country. The message claims that Rs 500 notes will be phased out by March 2026. However, the Press Information Bureau (PIB) has clarified that this claim is completely false. The RBI has not issued any such directive and the Rs 500 note continues to be valid for transactions. The viral WhatsApp message that's causing confusion reads: "RBI has asked all banks to stop disbursing 500 notes by 30 Sept 2025 from ATM. Target is 75% of all BANKS ATM & then 90% ATM by 31 Mar 2026. ATM going forward will disburse only 200 and 100 notes only. So start liquidating the Rs 500 notes that you have in hand from now on." This misleading message created panic among people, prompting many to rush and exchange their Rs 500 notes out of fear. No, Rs 500 Notes Are Not Being Banned: PIB Fact Check Amid rising confusion over a viral WhatsApp message, PIB Fact Check stepped in to clarify the truth. Posting on X (formerly Twitter), it said: 'Has RBI really asked banks to stop disbursing Rs 500 notes from ATMs by September 2025? No such instruction has been issued by the RBI. Rs 500 notes will continue to be legal tender. Do not fall for such misinformation. Always verify news from official sources.' The RBI has not released any circular or announcement supporting the claim, and Rs 500 notes remain completely valid for use across the country. Has RBI really asked banks to stop disbursing ₹500 notes from ATMs by September 2025? A message falsely claiming exactly this is spreading on #WhatsApp #PIBFactCheck No such instruction has been issued by the @RBI. ₹500 notes will continue to be legal tender. … — PIB Fact Check (@PIBFactCheck) July 12, 2025 The confusion may have stemmed from a genuine RBI circular issued in April, which simply asked banks and White Label ATM Operators (WLAOs) to ensure better availability of smaller denomination notes like Rs 100 and Rs 200 in ATMs.
NDTV
13-07-2025
- Business
- NDTV
RBI To Phase Out Rs 500 Notes By 2026? Here Is A Fact Check
A viral WhatsApp message, claiming that the Reserve Bank of India (RBI) is preparing to discontinue the circulation of Rs 500 notes by March 2026, has confused the public. The claim has now been officially debunked as false and misleading. The message, which has been "forwarded many times," alleges that the RBI has instructed all banks to gradually stop dispensing Rs 500 notes from ATMs, 75 per cent of ATMs by September 30, and 90 per cent by March 31, 2026. It urges people to "start liquidating" their Rs 500 notes in advance. Here's what the viral message says, "RBI has asked all banks to stop disbursing 500 notes by 30 Sept 2025 from ATM. Target is 75% of all BANKS ATM & then 90% ATM by 31 Mar 2026. ATM going forward will disburse only 200 and 100 notes only. So start liquidating the Rs 500 notes that you have in hand from now on." The Press Information Bureau's Fact Check unit has called out the message as completely untrue. Posting on X, PIB Fact Check clarified that the RBI has issued no such directive and that Rs 500 notes remain legal tender. "Has RBI really asked banks to stop disbursing Rs 500 notes from ATMs by September 2025? A message falsely claiming exactly this is spreading on WhatsApp. PIB Fact Check: No such instruction has been issued by the @RBI. Rs 500 notes will continue to be legal tender." The PIB instructs to not "fall for such misinformation." "Always verify news from official sources before believing or sharing it," they warned. As of now, there is no official statement or circular from the RBI suggesting any change in the status or circulation of Rs 500 currency notes. The note continues to be accepted for all transactions across the country. Has RBI really asked banks to stop disbursing ₹500 notes from ATMs by September 2025? ???? A message falsely claiming exactly this is spreading on #WhatsApp #PIBFactCheck ✅ No such instruction has been issued by the @RBI. ✅ ₹500 notes will continue to be legal tender. ????… — PIB Fact Check (@PIBFactCheck) July 12, 2025 This speculation may have been triggered by a genuine RBI circular issued in April, which directed banks and White Label ATM Operators (WLAOs) to increase the availability of smaller denomination notes, specifically Rs 100 and Rs 200, through ATMs.
