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Old ₹5, ₹10 and ₹100 notes to go out of circulation after March? Govt says

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Unlike 1,000 currency, which was declared exhausted by the government in 2016, 100 was circulated in the Indian economy in a new colour of lavender in 2019 without declaring the previous legal tender void.

By hindustantimes.com

UPDATED ON JAN 24, 2021 06:09 PM IST

The government has denied reports that old currency notes of 5, 10 and 100 go out of circulation after March this year. In a fact-check, the Press Information Bureau (PIB) said the Reserve Bank of India (RBI) has not made any such announcement.

“It is being claimed in news report that according to the information given by RBI, old notes of 5, 10 and 100 rupees will not be in circulation after March 2021. #PIBFactCheck : This claim #फ़र्ज़ी is. @RBI has not made any such announcement,” Press Information Bureau said in a tweet.

Media reports quoted B Meena, the Assistant General Manager of RBI, who had said that the apex bank is planning to withdraw old series of these currency notes and put them out of legal money flow in the economy. This sparked a wave of concern among citizens.

The reports also said that RBI is planning to put them out of legal money flow in the economy.

Unlike 1,000 currency, which was declared exhausted by the government in 2016, 100 was circulated in the Indian economy in a new colour of lavender in 2019 without declaring the previous legal tender void.

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