Fake News Alert: Will old Rs 100 notes go out of circulation after March?

Representative image

Representative image

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. “It is being claimed in a piece of news that according to the information given by the RBI, old notes of Rs 5, Rs 10 and Rs 100 rupees will not be circulated after March 2021. This news is fake. RBI has not made any such announcement,” the PIB said on Twitter in Hindi.

An RBI spokesperson has also thrashed the report and clarified that it has no plan to withdraw these notes, reported DNA.

Speaking at the District Level Security Committee (DLSC) and District Level Currency Management Committee (DLMC) meeting, Assistant General Manager (AGM) of the RBI B Mahesh said 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, said the report.

New currency notes of 100 rupees were released by the RBI in 2019. The new Rs 100 notes were issued in lavender colour with the motif of ‘Rani ki vav’ – a stepwell located on the banks of Saraswati river in Gujarat’s Patan.

The base colour of new Rs 100 note is Lavender. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse. Dimension of the new banknote is 66 mm x 142 mm, making it smaller than the old Rs 100 notes. The size of the old Rs 100 notes is 157 mm x 73 mm.

“All Rs 100 banknotes issued earlier will also continue to be legal tender,” the central bank had said while announcing the issue of the new currency notes.