Business News | No Plans to Replace Paper Currency with Plastic Notes from June 30, Clarifies PIB
Get latest articles and stories on Business at LatestLY. The Government of India, late on Tuesday, dismissed social media reports claiming that the Reserve Bank of India will withdraw all paper currency notes and replace them with plastic notes by the end of this month.
New Delhi [India], June 10 (ANI): The Government of India, late on Tuesday, dismissed social media reports claiming that the Reserve Bank of India will withdraw all paper currency notes and replace them with plastic notes by the end of this month.
The clarification came after multiple messages circulated across digital platforms, triggering concern among citizens regarding the status of their legal tender. Official sources confirmed that the central bank has issued no such directive, and the existing paper currency will continue to remain in circulation.
The Press Information Bureau (PIB) officially flagged the viral messages as completely baseless, urging the public not to succumb to panic or spread unverified rumors.
PIB Fact Check said on X, "Several social media posts are falsely claiming that RBI will withdraw paper currency notes and replace them with plastic currency notes from June 30, 2026."
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The government factual verification handle explicitly stated that the central bank is not executing any transition toward synthetic alternatives.
"This claim is Fake," the PIB Fact Check post stated.
The agency further noted that the banking regulator maintains its current currency structure.
"According to @RBI, there are no plans to withdraw paper currency notes or ic currency notes by June 30, 2026," the post added.
Authorities highlighted that citizens must exercise caution before forwarding sensitive financial news on messaging applications. Misinformation regarding currency withdrawal often leads to unnecessary confusion and anxiety among traders and common citizens.
To prevent the spread of speculative reports, the government advised the public to rely only on official communication channels.
"For authentic information, always refer to the official RBI website: rbi.org.in," the PIB Fact Check handle stated.
The PIB reiterated the importance of cross-checking public advisories during a period where digital rumors easily gain traction.
"Always verify information through official sources before sharing," the statement concluded. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)