https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

Govt Clarifies Rs 500 Notes Here to Stay; RBI Focuses on Rs 100 & Rs 200 Availability

Over 3,400 Complaints Filed Against Fraudulent Investment Schemes: Govt in RS
Indian Masterminds Stories

New Delhi— The government on Tuesday clarified that there is no proposal to stop the supply of Rs 500 denomination banknotes, and automated teller machines (ATMs) will continue dispensing Rs 500 notes along with Rs 100 and Rs 200 denominations.

In a written reply to a question in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary stated that the Reserve Bank of India (RBI) has not recommended any discontinuation of Rs 500 notes.

RBI Aims to Broaden Public Access to Lower Denomination Notes

Chaudhary informed the House that the RBI issued a circular on April 28, 2025, titled “Dispensation of Rs 100 and Rs 200 denomination banknotes through ATMs”, instructing all banks and White Label ATM Operators (WLAOs) to ensure the regular availability of Rs 100 and Rs 200 notes through at least one cassette in ATMs.

read also: RBI Governor Sanjay Malhotra to Reveal Monetary Policy on Wednesday Amid Global Uncertainty; Rate Status Quo Likely

As per RBI’s implementation milestones:

By September 30, 2025, 75% of all ATMs are expected to dispense either Rs 100 or Rs 200 notes from at least one cassette.

By March 31, 2026, this number will increase to 90% of ATMs.

The move aims to improve public access to smaller denominations while maintaining the current flow of Rs 500 notes.

Crackdown on Investment Frauds, Money Laundering and MLM Scams

In response to another question, Chaudhary highlighted steps taken by financial regulators to curb investment-related frauds, particularly in the securities and crypto markets.

He said the Securities and Exchange Board of India (SEBI) took up 76 cases from April 2020 to March 2025. During the last financial year alone, SEBI recovered Rs 949.43 crore through disgorgement, a process where illegally obtained gains are returned.

Frauds and cheating, he reiterated, are punishable under Indian law, and several central agencies are working to detect and act against such financial offences.

Action by CBDT and ED on Fraud-Related Cases

The Central Board of Direct Taxes (CBDT) identified nine cases in the last five years, primarily involving multi-level marketing (MLM) scams.

The Enforcement Directorate (ED) initiated around 220 cases related to money laundering under the Prevention of Money Laundering Act (PMLA) between January 1, 2020, and July 30, 2025.

Complaints Pouring In on SACHET Portal

The RBI’s SACHET portal, which tracks illegal deposit-taking schemes, received:

3,454 complaints from April 2020 to March 2025 related to non-repayment of funds from various investment schemes.

1,531 complaints related to MLM, direct selling, and Ponzi schemes.

Chaudhary noted that while crypto assets remain unregulated in India, complaints involving unauthorised deposit collection and fraud continue to rise, necessitating greater awareness and regulatory vigilance.

read also: RBI Grants ‘In-Principle’ Approval to IRCTC Payments for Payment Aggregator License – All Details Inside


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
Ministry of Defence
Defence Ministry Opens Missile and Ammunition Production to Private Sector, Boosts Aatmanirbhar Bharat
Delhi Police
Delhi Police Commissioner Satish Golchha Orders Formation of 3 Units for Contingency Action Plan Amid Nepal Protests
Rajasthan High Court
Rajasthan High Court Allows Prosecution of Retired IAS Officer in Rs 8 Crore Wheat Scam
Uttar Pradesh CM resized
Sacred Confluence, Modern Vision: Yogi Govt Approves Rs. 1 Crore to Develop Durvasa Ashram as Tourism Hub in Azamgarh
Aapki Punji
Every Penny Counts: Finance Minister Launches "Aapki Punji, Aapka Adhikar" Campaign to Return Unclaimed Assets to Citizens
NATPOLREX
NATPOLREX-X 2025: Indian Coast Guard Hosts Mega Marine Pollution Exercise with 32 Nations in Chennai
CM Vishnu Deo Singh
Chhattisgarh Unveils Its First National Highway Tunnel: A Landmark in India's Infrastructure Drive Built in Just 12 Months
bureaucracy news
Senior IRPS and IRS Officers Receive Key Postings: Repatriation and New Appointment in GST Council Secretariat
ADVERTISEMENT
ADVERTISEMENT
Videos
Dr G K Goswami IPS
Everything you ever wanted to know about e-murder, e-dacoity and data safety
IFS Ravikant Meena UPSC IFS
Ravikant Meena on IFS Preparation, Optionals, and Life in Forest Service
Siddhartha Saxena UPSC CAPF
How Siddhartha Saxena Cracked UPSC CAPF AIR 326 Against All Odds
ADVERTISEMENT
UPSC Stories
Utkarsh Ujjwal IAS
IAS Utkarsh Ujjwal Shares Key Advice for UPSC Aspirants: Work Ethic, Failure, and Focus
Read the inspiring journey of IAS Utkarsh Ujjwal, 2023 batch, Gujarat cadre. From IIT Guwahati to clearing...
Sagar Datta Majumdar UPSC CSE 2024 AIR 317
“Don’t get trapped in the vicious cycle of self-doubt,” says UPSC Achiever Sagar Datta Majumdar
Discover how Sagar Datta Majumdar from Agartala, Tripura, cracked UPSC CSE 2024 with All India Rank 317....
UPSC Chairman Ajay Kumar Live Interaction
From Cut-off Dates to Coaching & Reforms: UPSC Chairman Ajay Kumar Assures Aspirants of Fairness, Transparency & a Future-Ready UPSC | UPSC@100
A Century of Service: The UPSC’s Landmark Year Begins. Chairman Ajay Kumar on UPSC’s Centennial: “Merit,...
Social Media
World Rhino Day India
On World Rhino Day, IFS Officer Parveen Kaswan Shares Rare Insights - India Now Hosts 80% of the World’s One-Horned Rhinos
September 22 Marks Global Call for Rhino Conservation; India Holds 80% of World’s Greater One-Horned...
Parag Madhukar Dhakate
Relentless Rains Wreak Havoc in Dehradun: IFS officer PM Dhakate Warns Citizens Amid Flash Floods
Cloudbursts in Dehradun triggered flash floods. IFS officer Dr. PM Dhakate warned citizens to stay indoors...
Forest Guard Tiger Encounter
Tigers Clash in the Wild as Forest Guards Capture Rare Footage , Retired IFS Mohan Pargaien Posts Viral Video
Retired IFS officer Mohan Pargaien shares viral video of three tigers brawling in Ramnagar, as forest...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
Utkarsh Ujjwal IAS
IAS Utkarsh Ujjwal Shares Key Advice for UPSC Aspirants: Work Ethic, Failure, and Focus
Ministry of Defence
Defence Ministry Opens Missile and Ammunition Production to Private Sector, Boosts Aatmanirbhar Bharat
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
Dr G K Goswami IPS
IFS Ravikant Meena UPSC IFS
Siddhartha Saxena UPSC CAPF
ADVERTISEMENT
ADVERTISEMENT