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Minister of State for Finance Pankaj Chaudhary presented the government’s view on ₹ 500 notes in a written reply in the Rajya Sabha. The government also clarified that there is currently no legal control on crypto assets.
The central government on Tuesday once again clarified that there is no proposal under consideration to stop the supply of ₹ 500 banknotes. This information was given in Parliament by Minister of State for Finance Pankaj Chaudhary. According to PTI news, he said that the distribution of ₹ 500 notes from ATMs will continue as before. Apart from this, concrete efforts are also being made to increase the availability of ₹ 100 and ₹ 200 denomination notes.
In a written reply in the Rajya Sabha, the minister said that the Reserve Bank of India (RBI) has issued a circular on April 28, 2025. In this, all banks and white label ATM operators have been directed to ensure regular stocking of ₹ 100 and ₹ 200 notes in their ATMs, so that the general public can easily get cash of small denominations.
Emphasis on getting ₹ 100 or ₹ 200 notes
According to the news, RBI guidelines state that by September 30, 2025, 75% of the country’s ATMs should dispense at least one cassette of ₹ 100 or ₹ 200 notes. This target will be increased to 90% ATMs by March 31, 2026. In response to another question, Chaudhary said that the Securities and Exchange Board of India (SEBI) has investigated 76 cases during the last five years (April 2020 to March 2025). Disgorgement amount of ₹ 949.43 crore has been recovered from these cases. Here, disgorgement is the process in which illegally obtained profits are confiscated. The Minister of State said that several central agencies and enforcement bodies are actively working to prevent investment fraud.
Investigation of about 220 such cases has started
The Central Board of Direct Taxes (CBDT) has also identified 9 cases related to multi-level marketing scams in the last five years. The Enforcement Directorate (ED) has initiated investigations into about 220 cases under the Prevention of Money Laundering Act (PMLA), 2002, between January 1, 2020 and July 30, 2025, which are related to investment fraud. The government also clarified that there is currently no legal control on crypto assets, but thousands of complaints are being received on the RBI-SACHET portal regarding unauthorized investment schemes.
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