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Fact Check: No, RBI Is NOT Withdrawing Old Series Of ₹100, ₹10 & ₹5 Banknotes; Here’s The Truth

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A post is going viral on social media claiming that Reserve Bank of India (RBI) is planning to withdraw old series of currency notes of Rs 100, Rs 10 and Rs 5 denomination after March 2021.

A Facebook user shared the post with the caption, “Old notes of Rs 100, 10 and 5 may go out of circulation after March: RBI.”

Here’s the link to the above post. Check other similar posts here, here and here.

Some media organisations have also reported the same, quoting Assistant General Manager of RBI, B Mahesh.

As per the reports by some media outlets, speaking at the District Level Security Committee (DLSC) and District Level Currency Management Committee (DLMC) meeting organised by the District Lead Bank at Netravati Hall in Zilla panchayat, Mahesh said that the old currency notes of Rs 100, Rs 10 and Rs 5 will eventually go out of circulation as RBI plans to withdraw them by March-April.

We found the same post on Twitter as well. You can check some posts here, here and here.

 

FACT CHECK

NewsMobile fact-checked the claim and found it to be false.

Firstly, we searched for the news, and couldn’t find any credible information about RBI’s plan to withdraw the old series of currency notes of Rs 100, Rs 10, and Rs 5.

We also checked RBI’s website for any information on withdrawal of the said currency notes but found nothing.

We then checked RBI’s Twitter handle and found a tweet refuting the claim. “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,” RBI tweeted.

We also found a tweet by the government’s nodal agency Press Information Bureau rejecting the claim.

Hence from the above information, it is clear that RBI is NOT planning to withdraw old series of currency notes including Rs 100, Rs 10, and Rs 5. The claim is false.

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