Reserve Bank of India has clarified that it has no plan to withdraw the old currency notes of Rs 5, Rs 10, and Rs 100.

Old Rs 100 notes to go out of circulation by March? Here's what RBI has to  say
Image Credits – Free Press Journal

The central government has termed the reports, saying the circulation of old currency notes of Rs 100, Rs 10, and Rs 5 would stop permanently by March-April, as “fake”. Recently, speculations began after some reports claimed that the Reserve Bank of India (RBI) is planning to withdraw the old series of currency notes including Rs 100, Rs 10, and Rs 5 by March or April. The Press Information Bureau (PIB) said that the reports were false.

Twitter translates the tweet made in Hindi by PIB as, “It is being claimed in a news that according to the information given by RBI, old notes of 5, 10 and 100 rupees will not run after March 2021. #PIBFactCheck : This claim #फ़र्ज़ी is.@RBI Has not made any such announcement.”

As reported by several media publications, Assistant General Manager (AGM) of the Reserve Bank of India (RBI) B Mahesh while speaking at the District Level Security Committee (DLSC) and District Level Currency Management Committee (DLMC) meeting, stated that the old currency notes of Rs 100, Rs 10 and Rs 5 will eventually go out of circulation as is the norm but they will remain legal tender.

However, even after 15 years of the introduction of the Rs 10 coin, traders and businessmen have not accepted the coins which have become a problem for banks and RBI. 

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