Hyderabad: Reserve Bank of India (RBI) has issued a clarification denying the withdrawal of old currency notes of Rs.100, Rs.10 and Rs.5.
In a tweet, RBI wrote, “With regard to reports in certain sections of media on withdrawal of old series of Rs. 100, Rs. 10 & Rs. 5 banknotes from circulation in near future, it is clarified that such reports are incorrect”.
This clarification was issued after several media reports, quoting Assistant General Manager of the Reserve Bank of India (RBI) B Mahesh, claimed that old series of currency notes including Rs 100, Rs 10 and Rs 5 are likely to go out of circulation by the end of March or April as the apex bank is planning to withdraw them.
It may be mentioned that on November 8, 2016, at 8 pm Prime Minister Narendra Modi suddenly addressed the nation declaring the withdrawal of Rs.500 and 1000 notes which lead to great consternation among the people and the Central Government was severely criticized for that action.
In 2018, RBI issued new banknotes of Rs.200, Rs.50 and Rs.10 and in 2019 issued new Rs.100 banknote which is concurrently in circulation along with the old notes of Rs.100, Rs.50 and Rs.5.