Is RBI Replacing Paper Notes With Plastic Currency by June 30? PIB Fact Check Debunks Fake Claim
The Government of India has debunked viral social media claims that the RBI will withdraw paper currency notes and replace them with plastic notes by June 30, 2026. PIB Fact Check called the claim 'Fake' and clarified that the central bank has issued no such directive. Authorities have urged citizens to verify information through official RBI and government channels before sharing it.
The Government of India has dismissed viral social media claims suggesting that the Reserve Bank of India (RBI) plans to withdraw all paper currency notes and replace them with plastic notes by June 30, 2026. The clarification came after several posts circulating online triggered confusion among citizens about the future of India's currency system.
Official sources confirmed that no such directive has been issued by the RBI and that existing paper currency notes will continue to remain legal tender. The government urged the public not to rely on unverified messages being shared on social media and messaging platforms. ‘Fake’: PIB Fact Check Debunks AI-Generated Video With MEA Official’s ‘Remarks’ on Quad.
PIB Fact Check Labels Claim as Fake
The government's fact-checking unit, Press Information Bureau Fact Check, addressed the viral claim in a post 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."
The agency categorically rejected the claim and stated: "This claim is #Fake." PIB Fact Check further clarified that the RBI has not announced any plan to replace the country's existing paper currency system. Did PM Modi Visit ‘Epstein Island’ 320 Times? Here’s the Fact Check.
RBI Has Issued No Such Directive
According to the government, the central bank continues to maintain its current currency framework. "According to @RBI, there are no plans to withdraw paper currency notes or replace them with plastic currency notes by June 30, 2026." The clarification is aimed at countering misinformation that had spread widely across digital platforms, leading to questions among citizens and businesses regarding the validity of existing currency notes.
Authorities emphasised the importance of verifying financial and policy-related information before sharing it online. "For authentic information, always refer to the official RBI website: http://rbi.org.in"
The government also urged citizens to exercise caution when forwarding messages related to banking, finance and currency matters, noting that false information can create unnecessary confusion and anxiety.
The PIB reiterated that users should verify sensitive information through official channels before sharing it with others. The agency also encouraged people to report misleading content linked to government policies and announcements.
Claims related to currency withdrawals, demonetisation or changes in legal tender status often attract widespread attention because they directly affect everyday transactions and savings. In recent years, government agencies and regulators have repeatedly issued clarifications against false reports circulating online regarding banking and currency policies.
The latest clarification confirms that there is currently no proposal from the RBI to withdraw paper currency notes or replace them with plastic alternatives by June 30, 2026. Citizens have been advised to rely only on official communications issued by the RBI and government agencies for updates related to currency and banking regulations.
Fact check
RBI plans to withdraw all paper currency notes and replace them with plastic notes by June 30
The claim is fake.
(The above story first appeared on LatestLY on Jun 10, 2026 12:01 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).