RBI withdrawing old series of Rs 100, Rs 10 & Rs 5 banknotes is a FAKE news

Jan. 25: Some media reports in the last few days claimed that the Reserve bank of India (RBI) plans to withdraw old series of Rs 100, Rs 10 and Rs 5 currency notes from circulation. This created panic among a major section of the populace as this news became very viral. The information also started to spread like wild fire in various social media platforms.

In 2018, the RBI had issued new notes in denominations of Rs 10, Rs  50 and Rs 200.  It had also introduced new lavender-coloured Rs  100 notes in 2019.  The central bank had then said that all Rs 100 notes introduced earlier would also continue to be legal tender. However, reports by a section of media regarding withdrawal of old series of Rs 100, Rs 10 and Rs 5 currency notes from circulation really became a major cause of concern for many.

Finally, taking to its twitter handle, the Reserve Bank of India on Monday said the old notes of Rs 100, Rs 10 and Rs 5 denominations will stay in circulation and there is no plan to withdraw them. The RBI in its tweet clarified, “With regard to reports in certain sections of media on withdrawal of old series of Rs 100, Rs 10 & Rs 5 banknotes from circulation in near future, it is clarified that such reports are incorrect.”

With regard to reports in certain sections of media on withdrawal of old series of ₹100, ₹10 & ₹5 banknotes from circulation in near future, it is clarified that such reports are incorrect.

— ReserveBankOfIndia (@RBI) January 25, 2021

At present, RBI issues notes in denominations of Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 200, Rs 500 and Rs 2,000.